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Rates of Return for Industrial R&D in Chile

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  • José Miguel Benavente
  • José De Gregorio
  • Marco Núñez

Abstract

Using a panel data of innovative Chilean firms, we obtain a private return for R&D expenditure close to 30% during the nineties. Despite the fact of being almost twice the return obtained for physical capital - 17 %, results show that R&D expenditure causes contemporaneous negative impacts over firms’ profits suggesting that a learning process is in place. Nevertheless, after two years, the net effect is positive and may explain why private participation in research activities is still very low in Chile.

Suggested Citation

  • José Miguel Benavente & José De Gregorio & Marco Núñez, 2006. "Rates of Return for Industrial R&D in Chile," Working Papers wp220, University of Chile, Department of Economics.
  • Handle: RePEc:udc:wpaper:wp220
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    File URL: http://www.econ.uchile.cl/uploads/publicacion/796a2879-df18-45a1-9dca-4a9023c5b7c7.pdf
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    Cited by:

    1. Bronwyn Hall & Alessandro Maffioli, 2008. "Evaluating the impact of technology development funds in emerging economies: evidence from Latin America," The European Journal of Development Research, Taylor and Francis Journals, vol. 20(2), pages 172-198.
    2. Cristián Mardones Poblete, 2010. "Evaluando Reformas Tributarias en Chile con un Modelo CGE," Estudios de Economia, University of Chile, Department of Economics, vol. 37(2 Year 20), pages 243-284, December.
    3. Daniel Chudnovsky & Andrés López & Martín Rossi & Diego Ubfal, 2006. "Evaluating A Program of Public Funding of Private Innovation Activities. An Econometric Study of FONTAR in Argentina," OVE Working Papers 1606, Inter-American Development Bank, Office of Evaluation and Oversight (OVE).

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    Keywords

    R&D return; Manufacturing; Chile.;

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