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R&D, Innovation, and Technological Progress: A Test of the Schumpeterian Framework Without Scale Effects

I use U.S. manufacturing industry data to estimate a system of three equations implied by a model of R&D-induced growth in steady state. These equations relate R&D intensity to patenting, patenting to technological progress, and technological progress to economic growth. In each case, I find evidence of positive impact. Thus, I reject the null hypothesis that growth is not induced by R&D in favour of the Schumpeterian endogenous growth framework without scale effects. I also find strong support for technological spillovers from aggregate research intensity to industry-level innovation success.

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File URL: http://www.bus.lsu.edu/economics/papers/pap02_18.pdf
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Paper provided by Department of Economics, Louisiana State University in its series Departmental Working Papers with number 2002-18.

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Handle: RePEc:lsu:lsuwpp:2002-18
Contact details of provider: Postal: Baton Rouge, LA 70803-6306
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