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Productivity, adjustment costs and R&D investment prices An analysis of a panel of Spanish manufacturing companies


  • Cesar Pérez-López

    (Univesidad Complutense de Madrid)

  • Desiderio Romero-Jordan

    (Universidad Rey Juan Carlos)

  • José Felix Sanz-Sanz

    (Universidad Complutense de Madrid)


This study analyses the role played by adjustment costs and R&D investment prices in total R&D productivity. The results show that on average, for each monetary unit increase in adjustment costs produces a fall in productivity of 0.034 monetary units.

Suggested Citation

  • Cesar Pérez-López & Desiderio Romero-Jordan & José Felix Sanz-Sanz, 2004. "Productivity, adjustment costs and R&D investment prices An analysis of a panel of Spanish manufacturing companies," Development and Comp Systems 0407004, EconWPA.
  • Handle: RePEc:wpa:wuwpdc:0407004
    Note: Type of Document - pdf; pages: 6

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    R&D; productivity; adjustment costs;

    JEL classification:

    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models

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