Impact of R&D on Productivity - Firm-level Evidence from Finland
This study analyses how R&D expenditure impacts the productivity of companies. We analyse the productivity impact of R&D using a large panel dataset of Finnish firms over a nine-year period from 1996 to 2004. Our results are two-fold. In the short run (in 1-2 years) we find no statistically significant productivity impact of R&D. However, R&D does have an economically and statistically significant im-pact when we take into account R&D efforts made 3-5 years before. Hence, a window of almost 5 years is needed to capture the productivity impact of R&D.
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- Blundell, Richard & Bond, Stephen, 1998.
"Initial conditions and moment restrictions in dynamic panel data models,"
Journal of Econometrics,
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- Bronwyn H. Hall & Jacques Mairesse, 1992. "Exploring the Relationship Between R&D and Productivity in French Manufacturing Firms," NBER Working Papers 3956, National Bureau of Economic Research, Inc.
- Petri Rouvinen, 2002. "R&D-Productivity Dynamics: Causality, Lags, and "Dry Holes"," Journal of Applied Economics, Universidad del CEMA, vol. 5, pages 123-156, May.
- Mika Maliranta, 2005. "R&D, International Trade and Creative Destruction—Empirical Findings from Finnish Manufacturing Industries," Journal of Industry, Competition and Trade, Springer, vol. 5(1), pages 27-58, January.
- Zvi Griliches & Jacques Mairesse, 1981. "Productivity and R and D at the Firm Level," NBER Working Papers 0826, National Bureau of Economic Research, Inc. Full references (including those not matched with items on IDEAS)
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