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Business R&D expenditure and capital in Europe

  • Helmers, Christian

    ()

    (University of Oxford)

  • Schulte, Christian

    ()

    (Ludwig-Maximilians-Universität München)

  • Strauss, Hubert

    ()

    (European Investment Bank, Economic and Financial Studies)

This study presents new estimates of business R&D capital stocks for 22 countries at the aggregate and industry levels. At 9 percent of GDP, the EU business R&D capital stock falls short of its US and Japanese counterparts. Within the EU, R&D capital stocks are much lower in the southern and the new member states, reflecting large and persistent disparities in R&D expenditure. There was hardly any convergence over the past decade. The R&D capital stock is concentrated on three technologyintensive manufacturing industries and is positively correlated with growth in total factor productivity across countries and industries. Finally, the ratios between the stocks of R&D capital and tangible capital suggest marked differences in how R&D and tangible capital are combined in production.

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Paper provided by European Investment Bank, Economics Department in its series EIB Papers with number 2/2009.

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Length: 25 pages
Date of creation: 23 Dec 2009
Date of revision:
Handle: RePEc:ris:eibpap:2009_002
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