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Capital, Labour, Materials and Additional R&D Investment in Japan. The Issue of (Double-) Counting

Listed author(s):
  • Peeters, Marga

    (UNIVERSITE CATHOLIQUE DE LOUVAIN, Institut de Recherches Economiques et Sociales (IRES))

  • Ghijsen, Paul

    (Erasmus University, Department of Economic Geography, Rotterdam; Tinbergen Institute, Faculty of Economics, Rotterdam)

R&D components are investigated in dynamic factor demand models, using a pooled data set. Models where information on R&D is (double or ) wrongly counted and (once or) correctly counted are compared by GMM estimates, (non-)nested GMM tests and residual analyses. The results indicate that R&D contributes significantly to the explanation of capital, labour, energy and materials demand in the Japanese manufacturing industry. A double counting of R&D is even preferred to not incorporating R&D as a separate production factor. Furthermore, R&D turns out to be a heterogeneous production factor with production potentials differing among its components.

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Paper provided by Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) in its series Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) with number 1995009.

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Length: 32
Date of creation: 01 Jan 1995
Handle: RePEc:ctl:louvir:1995009
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