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

Author

Listed:
  • 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)

Abstract

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.

Suggested Citation

  • Peeters, Marga & Ghijsen, Paul, 1995. "Capital, Labour, Materials and Additional R&D Investment in Japan. The Issue of (Double-) Counting," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 1995009, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
  • Handle: RePEc:ctl:louvir:1995009
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    File URL: http://sites.uclouvain.be/econ/DP/IRES/1995009.pdf
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    Cited by:

    1. Sabine Visser, 2007. "R&D in Worldscan," CPB Memorandum 189, CPB Netherlands Bureau for Economic Policy Analysis.

    More about this item

    JEL classification:

    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production

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