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Persistent heterogeneity of R&D intensities within sectors: Evidence and policy implications

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  • Alex Coad

    (CENTRUM-Catolica Graduate Business School, Pontificia Universidad Catolica del Peru, Lima, Peru.)

Abstract

Do firms in the same sector converge towards the same R&D intensities? Previous research has often assumed this to be true. A closer examination, using microdata from the EU Industrial R&D Investment Scoreboard for the years 2000-2015, shows a large amount of heterogeneity in R&D intensities among firms in the same sector, and that this heterogeneity persists over time. Statistical tests of convergence show that the variation in R&D intensities does not decrease over time (i.e. no ?-convergence), although firms with an R&D intensity below the industry average do seem to catch up with the leaders (i.e. evidence of ?-convergence). Overall, firms in the same industry do not converge to a common R&D intensity. Policy implications are discussed.

Suggested Citation

  • Alex Coad, 2017. "Persistent heterogeneity of R&D intensities within sectors: Evidence and policy implications," JRC Working Papers on Corporate R&D and Innovation 2017-04, Joint Research Centre.
    • Handle: RePEc:ipt:wpaper:201704
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    22. Ciriaci, Daria & Grassano, Nicola & Vezzani, Antonio, 2019. "Regulations and location choices of top R&D investors worldwide," Structural Change and Economic Dynamics, Elsevier, vol. 49(C), pages 29-42.
    23. Liu, Duan & Li, Zhiyuan & He, Hongbo & Hou, Wenxuan, 2021. "The determinants of R&D smoothing with asset sales: Evidence from R&D-intensive firms in China," International Review of Economics & Finance, Elsevier, vol. 75(C), pages 76-93.

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    More about this item

    Keywords

    R&D investment; R&D intensity; convergence; benchmarking;
    All these keywords.

    JEL classification:

    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior

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