Capital, Labour, Materials and Additional R&D Investment in Japan. The Issue of (Double-) Counting
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.
|Date of creation:||01 Jan 1995|
|Date of revision:|
|Contact details of provider:|| Postal: Place Montesquieu 3, 1348 Louvain-la-Neuve (Belgium)|
Fax: +32 10473945
Web page: http://www.uclouvain.be/ires
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:ctl:louvir:1995009. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Anne DAVISTER-LOGIST)
If references are entirely missing, you can add them using this form.