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Public R&D Policies and Cost Behavior of the U.S. Manufacturing Industries

  • Mamuneas, T.P.
  • Nadiri, M.I.

This paper estimates and evaluates the contributions of R&D tax incentives and publicly financed R&D investment policies in promoting growth of output and privately funded R&D investment in US manufacturing industries. Publicly financed R&D induces cost savings but crowds out privately-financed R&D investment while the incremental R&D tax credit and the immediate deductibility provision of R&D expenditures have a significant impact on privately financed R&D investment. The optimal mix of both instruments is an important element for sustaining a balanced growth in output and productivity in the manufacturing sector.

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File URL: http://econ.as.nyu.edu/docs/IO/9389/RR93-44.pdf
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Paper provided by C.V. Starr Center for Applied Economics, New York University in its series Working Papers with number 93-44.

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Length: 43 pages
Date of creation: 1993
Date of revision:
Handle: RePEc:cvs:starer:93-44
Contact details of provider: Postal: C.V. Starr Center, Department of Economics, New York University, 19 W. 4th Street, 6th Floor, New York, NY 10012
Phone: (212) 998-8936
Fax: (212) 995-3932
Web page: http://econ.as.nyu.edu/object/econ.cvstarr.html
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Order Information: Postal: C.V. Starr Center, Department of Economics, New York University, 19 W. 4th Street, 6th Floor, New York, NY 10012
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  1. Cordes, Joseph J., 1989. "Tax incentives and R&D spending: A review of the evidence," Research Policy, Elsevier, vol. 18(3), pages 119-133, June.
  2. Griliches, Zvi & Lichtenberg, Frank, 1984. "Interindustry Technology Flows and Productivity Growth: A Re-examination," The Review of Economics and Statistics, MIT Press, vol. 66(2), pages 324-29, May.
  3. Nadiri, M.I., 1993. "Innovations and Technological Spillovers," Working Papers 93-31, C.V. Starr Center for Applied Economics, New York University.
  4. Eric J. Bartelsman, 1990. "R&D spending and manufacturing productivity: an empirical analysis," Finance and Economics Discussion Series 122, Board of Governors of the Federal Reserve System (U.S.).
  5. M. Ishaq Nadiri, 1993. "Innovations and Technological Spillovers," NBER Working Papers 4423, National Bureau of Economic Research, Inc.
  6. Leonard, William N, 1971. "Research and Development in Industrial Growth," Journal of Political Economy, University of Chicago Press, vol. 79(2), pages 232-56, March-Apr.
  7. Frank R. Lichtenberg & Donald Siegel, 1989. "The Impact of R&D Investment On Productivity - New Evidence Using Linked R&D-LRD Data," NBER Working Papers 2901, National Bureau of Economic Research, Inc.
  8. Cohen, Wesley M. & Levin, Richard C., 1989. "Empirical studies of innovation and market structure," Handbook of Industrial Organization, in: R. Schmalensee & R. Willig (ed.), Handbook of Industrial Organization, edition 1, volume 2, chapter 18, pages 1059-1107 Elsevier.
  9. Jorgenson, Dale W., 1986. "Econometric methods for modeling producer behavior," Handbook of Econometrics, in: Z. Griliches† & M. D. Intriligator (ed.), Handbook of Econometrics, edition 1, volume 3, chapter 31, pages 1841-1915 Elsevier.
  10. Alan J. Auerbach, 1983. "Corporate Taxation in the United States," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 14(2), pages 451-514.
  11. Jeffrey I. Bernstein & M. Ishaq Nadiri, 1991. "Product Demand, Cost of Production, Spillovers, and the Social Rate of Return to R&D," NBER Working Papers 3625, National Bureau of Economic Research, Inc.
  12. Jaffe, Adam B, 1989. "Real Effects of Academic Research," American Economic Review, American Economic Association, vol. 79(5), pages 957-70, December.
  13. Richard Levin & Peter C. Reiss, 1984. "Tests of a Schumpeterian Model of R&D and Market Structure," NBER Chapters, in: R&D, Patents, and Productivity, pages 175-208 National Bureau of Economic Research, Inc.
  14. Bronwyn Hall, 1992. "R&D Tax Policy During the Eighties: Success or Failure?," NBER Working Papers 4240, National Bureau of Economic Research, Inc.
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