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Public R&D Policies and Cost Behavior of the US Manufacturing Industries

  • Theofanis P. Mamuneas
  • M. Ishaq Nadiri

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://www.nber.org/papers/w5059.pdf
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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 5059.

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Date of creation: Mar 1995
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Publication status: published as Journal of Public Economics, vol. 63, no.1 (Dec 1996): 57-81.
Handle: RePEc:nbr:nberwo:5059
Note: EFG PR
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  1. Jaffe, Adam B, 1989. "Real Effects of Academic Research," American Economic Review, American Economic Association, vol. 79(5), pages 957-70, December.
  2. Bernstein, Jeffrey I. & Nadiri, M. Ishaq, 1990. "Product Demand, Cost Of Production, Spillovers And The Social Rate Or Return To R&D," Working Papers 90-53, C.V. Starr Center for Applied Economics, New York University.
  3. 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.
  4. 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.
  5. 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.
  6. Zvi Griliches, 1998. "Interindustry Technology Flows and Productivity Growth: A Reexamination," NBER Chapters, in: R&D and Productivity: The Econometric Evidence, pages 241-250 National Bureau of Economic Research, Inc.
  7. Bronwyn Hall, 1992. "R&D Tax Policy During the Eighties: Success or Failure?," NBER Working Papers 4240, National Bureau of Economic Research, Inc.
  8. M. Ishaq Nadiri, 1993. "Innovations and Technological Spillovers," NBER Working Papers 4423, National Bureau of Economic Research, Inc.
  9. Nadiri, M.I., 1993. "Innovations and Technological Spillovers," Working Papers 93-31, C.V. Starr Center for Applied Economics, New York University.
  10. 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.).
  11. 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.
  12. 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.
  13. 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.
  14. 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.
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