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Are there Diminishing Returns to R&D?

  • Jakob B. Madsen

    (Department of Economics, Monash University, Australia)

Semi-endogenous models and, to some extent, also Schumpeterian models are based on the assumption of diminishing returns to R&D. This paper shows that the null hypothesis of constant returns to R&D cannot be rejected for the OECD countries.

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File URL: http://www.econ.ku.dk/eprn_epru/Workings_Papers/wp-06-05.pdf
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Paper provided by Economic Policy Research Unit (EPRU), University of Copenhagen. Department of Economics in its series EPRU Working Paper Series with number 06-05.

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Length: 7 pages
Date of creation: Aug 2006
Date of revision:
Handle: RePEc:kud:epruwp:06-05
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  1. repec:fth:harver:1473 is not listed on IDEAS
  2. Peretto, Pietro F, 1998. " Technological Change and Population Growth," Journal of Economic Growth, Springer, vol. 3(4), pages 283-311, December.
  3. Marios Zachariadis, . "R&D-Induced Growth in the OECD?," Departmental Working Papers 2001-02, Department of Economics, Louisiana State University.
  4. Dinopoulos, Elias & Thompson, Peter, 1998. " Schumpeterian Growth without Scale Effects," Journal of Economic Growth, Springer, vol. 3(4), pages 313-35, December.
  5. Griliches, Zvi, 1990. "Patent Statistics as Economic Indicators: A Survey," Journal of Economic Literature, American Economic Association, vol. 28(4), pages 1661-1707, December.
  6. Samuel S. Kortum, 1997. "Research, Patenting, and Technological Change," Econometrica, Econometric Society, vol. 65(6), pages 1389-1420, November.
  7. Segerstrom, Paul S, 1998. "Endogenous Growth without Scale Effects," American Economic Review, American Economic Association, vol. 88(5), pages 1290-1310, December.
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