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1.
This paper analyses productivity growth in a panel of 14 United Kingdom manufacturing industries since 1970. Innovation and technology transfer provide two potential sources of productivity growth for a country behind the technological frontier. We examine the roles played by research and development (R&D), international trade, and human capital in stimulating each source of productivity growth. Technology transfer is statistically significant and quantitatively important. While R&D raises rates of innovation, international trade enhances the speed of technology transfer. Human capital primarily affects output through private rates of return (captured in our index of labour quality) rather than measured TFP. 相似文献
2.
This paper examines whether stringent environmental regulations induce more R&D and promote further productivity in Taiwan. Using an industry-level panel dataset for the 1997–2003 period, empirical results show that pollution abatement fees, a proxy for environmental regulations, is positively related to R&D expenditure, implying that stronger environment protection induces more R&D. On the other hand, pollution abatement capital expenditures do not have a statistically significant influence on R&D. Further evaluation of the influence of induced R&D by environment regulations on industrial productivity shows a significant positive association between them. This finding supports the Porter hypothesis that more stringent environmental regulations may enhance rather than lower industrial competitiveness. 相似文献
3.
R&D and productivity: Internal vs. external R&D - evidence from west german manufacturing industries
Werner Bönte 《Economics of Innovation and New Technology》2013,22(4):343-360
The paper explores the productivity effects of investment in external (contract) vs. internal (in-house) R&D in a sample of West-German Manufacturing Industries. The results provide strong evidence of a positive relationship between productivity and the share of external R&D in total R&D. This result is robust to alternative econometric specifications. Thus, findings suggest that the decision between internal and external R&D does matter. Moreover, results imply a nonlinear relationship between productivity and the share of external R&D for higher-technology industries, hinting at decreasing productivity effects of an increasing share of external in total R&D. 相似文献
4.
Mario I. Kafouros 《Economics of Innovation and New Technology》2013,22(6):479-497
Although the econometric evaluation of R&D has attracted wide interest in many countries, it has not attracted much in the UK. The main objective of this paper is to fill this void, i.e., to estimate the impact of R&D on productivity growth of the UK manufacturing sector. However, there are some additional objectives. Firstly, we estimate the impact of R&D on productivity growth of large and small firms and we discuss a number of theoretical arguments regarding the role of firm size. Secondly, given that the technological infrastructure influences the innovative capacity of a firm, we compare the impact of R&D on productivity growth of high-tech firms with the corresponding impact on productivity growth of low-tech firms. Thirdly, we investigate whether the contribution of R&D to productivity growth has changed over time. Based on firm-level data (78 firms, 1989–2002), we find that the contribution of R&D is approximately 0.04. Although the R&D-elasticity of large firms (0.044) is higher than the corresponding elasticity of small firms (0.035), the difference is small. In contrast, the R&D-elasticity is considerably high for high-tech sectors (0.11), but statistically insignificant for low-tech sectors. Finally, the investigation of the elasticity of R&D over time revealed an interesting discontinuity showing that although until 1995 the R&D-elasticity was approximately zero, after 1995 it increased dramatically to 0.09. We investigate the potential causes of such non-linearity and we suggest a number of possible explanations. 相似文献
5.
ABSTRACT R&D investment are an important engine of growth and development. Yet economists have often claimed underinvestment, based on the consideration that these projects are more costly to finance, especially, due to the asymmetric information between inside and outside investors. Coherently, a recent empirical evidence has shown that firms intensively active in R&D are less leveraged and rely more heavily on internal finance. Motivated by this evidence, we study the effects of asymmetric information and financial frictions within a GE economy of Schumpeterian tradition. The model and equilibrium concept are rich enough to represent investment and innovation decisions, technology adoption/diffusion through patent licensing and, most importantly, firms' financial decisions. In this representation, R&D-intensive firms might effectively rely more on internal sources and equity than on debt financing, relative to what would happen in frictionless markets. Further, financial decisions affect aggregate investment and income dynamics. 相似文献
6.
ABSTRACTWe use Office for National Statistics' micro data for large UK establishments in the production industries in the period 1997–2008 to study the relationship between their productivity and the presence of substantial R&D activities, either at the production unit itself, or at other UK reporting units owned by the same enterprise group. We estimate that total factor (revenue) productivity is on average about 14% higher at the establishments which have substantial R&D themselves, compared to those with no R&D. Among the establishments with no R&D themselves, we estimate that productivity is on average about 9% higher at those which belong to enterprise groups which do have substantial R&D elsewhere in the UK in the same sub-sector. For the establishments with substantial R&D themselves, we also estimate a significant positive relationship between current productivity and past R&D expenditure using dynamic specifications which allow for both establishment-specific ‘fixed effects’ and a serially correlated error component. 相似文献
7.
Strategic policy for product R&D with symmetric costs 总被引:1,自引:0,他引:1
Naoto Jinji 《The Canadian journal of economics》2003,36(4):993-1006
Abstract. In this paper I examine strategic policy for product R&D in an international duopoly where domestic and foreign firms are identical. It is shown that strategic R&D policy is described by a subsidy schedule contingent on firms' quality choices. Unilateral policy enables its domestic firm to produce a high‐quality product, making equilibrium outcome unique. With two active governments, in equilibrium they implement different subsidy schedules. Two equilibrium outcomes exist, which are identical except for the identity of the countries. Thus, both countries have an equal chance to become the high‐quality exporter. Both Bertrand and Cournot cases are examined. JEL classification: F12, F13
Politique stratégique pour le R&D dans le développement de nouveaux produits quand les coûts sont symétriques. Ce mémoire examine la politique stratégique pour le R&D dans le développement de produits nouveaux dans un duopole international où les entreprises domestique et étrangère sont identiques. On montre que cette politique est décrite par cédules de subventions qui dépendent des choix du niveau de qualité des entreprises. Une politique unilatérale permet à l'entreprise domestique de manufacturer un produit de haute qualité– ce qui engendre des résultats d'équilibre uniques. Si deux gouvernements sont actifs, en équilibre, ils mettent en place des cédules de subventions différentes. Deux résultats d'équilibre existent qui sont identiques sauf pour l'identité des pays. Donc les deux pays ont une chance égale de devenir l'exportateur du produit de haute qualité. On examine les cas de figure à la Bertrand et à la Cournot. 相似文献
Politique stratégique pour le R&D dans le développement de nouveaux produits quand les coûts sont symétriques. Ce mémoire examine la politique stratégique pour le R&D dans le développement de produits nouveaux dans un duopole international où les entreprises domestique et étrangère sont identiques. On montre que cette politique est décrite par cédules de subventions qui dépendent des choix du niveau de qualité des entreprises. Une politique unilatérale permet à l'entreprise domestique de manufacturer un produit de haute qualité– ce qui engendre des résultats d'équilibre uniques. Si deux gouvernements sont actifs, en équilibre, ils mettent en place des cédules de subventions différentes. Deux résultats d'équilibre existent qui sont identiques sauf pour l'identité des pays. Donc les deux pays ont une chance égale de devenir l'exportateur du produit de haute qualité. On examine les cas de figure à la Bertrand et à la Cournot. 相似文献
8.
Ting-Kun Liu Jong-Rong Chen Cliff C.J. Huang Chih-Hai Yang 《Information Economics and Policy》2013,25(4):272-283
This study investigates the impact of e-commerce and R&D on productivity, using a unique panel dataset obtained from Taiwanese manufacturing firms for the period from 1999 to 2002. We specifically consider the network externalities of e-commerce and employ the system generalized method of moment (GMM) technique to deal with the endogenous problem of e-commerce adoption. The empirical results show that both e-commerce and R&D capital have a positive influence on productivity, while R&D exhibits a larger productivity-enhancing effect. We also find a complementary relationship between e-commerce and R&D on enhancing productivity. Crucially, the inter-industry network externality of e-commerce significantly contributes to productivity. 相似文献
9.
This study examines the relation between productivity and exports in Indonesian manufacturing firms by taking account the endogenous choice of R&D. We first examine the determinants of R&D activity and find that exporting activity contributes positively to plants' R&D activity, while multinational corporate do not have a higher R&D propensity. The simultaneous estimates on the interrelation of R&D, productivity, and export show that R&D has a positive impact on both productivity and exports, suggesting the importance of R&D to Indonesian economic growth. It suggests also a two-way causality between productivity and exports, implying the coexistence of self-selection and learning-by-exporting effects in Indonesian manufacturing sector. 相似文献
10.
Incumbent firms have two basic possibilities to improve their competitive position in the product market: Investment in R&D and the creation of entry barriers to the disadvantage of potential rivals, e.g. through lobbying activities, campaign contributions, bribes or the adoption of incompatible technologies. This paper proposes a simple oligopoly model which raises the possibility that such anti-competitive conduct and R&D investment are complementary activities for incumbents. Consequently, an institutional framework or technological possibilities which encourage anti-competitive conduct, although impeding entry of potential rivals and accentuating standard oligopoly distortions, may foster R&D-based growth and welfare. However, this outcome is less likely if entrants exert technological spillover effects, e.g. through foreign direct investment. Stronger protection of intellectual property rights, although triggering anti-competitive conduct and thereby impeding market entry as well, is more likely to foster economic growth. 相似文献
11.
Productivity has become an important concern for the sustainable development and growth of a country. Countries, such as those in the Organization for Economic Cooperation Development (OECD), that actively innovate and conduct Research and Development (R&D) activities always have high productivity growth, with research to date examining the positive influences of R&D on productivity. R&D activities are classified into three types: basic research, applied research and experimental development. To test the different influences of the different R&D types, panel data from 23 OECD countries for the period 1996–2010 have been constructed and the Data Envelopment Analysis method is used to measure and decompose productivity growth. Moreover, based on Mansfield's [“Basic Research and Productivity Increase in Manufacturing.” The American Economic Review 70: 863–873] model, the influences of each R&D type on productivity growth are tested. The empirical tests show that R&D investments in experimental development and applied research have a positive effect on productivity growth in the immediate period; basic research influences productivity growth with a lengthier lag, even up to three periods. 相似文献
12.
This study considers the productivity of R&D expenditures on an international and multi-industry basis. Using 1992 data reported by Business Week on 117 companies in the United States, Europe, and Japan, we examined two measures of innovative output, patents and impact-adjusted patents, in relationship to R&D spending. Our results clearly show a decreasing returns to scale of R&D expenditure. Although this pattern holds true regardless of industry or global region, the level of return and rate of decreasing returns vary by both industry and international region. 相似文献
13.
We revisit the relation between product market competition and leading-edge growth in a model where horizontal and vertical innovations simultaneously occur. We show that competition exerts an important effect on the composition of aggregate R&D (vertical versus horizontal). In fact, when product market competition gets more intense, a larger fraction of R&D is engaged in improving the quality of products; this occurs at the expense of a lower rate of horizontal innovation. This effect, which is absent in the basic endogenous growth model with only vertical innovations, may overturn the inverse relation between product market competition and leading-edge growth found in prior theoretical models. 相似文献
14.
Changkyu Choi 《Applied economics letters》2018,25(4):264-267
We examine the effect of the Internet on the relationship between R&D expenditure and economic growth. Data for 105 countries over the period 1994–2014 are used for panel data analysis. The effect of R&D expenditure on economic growth proves to be affected positively by the Internet and the effect of the Internet on the economic growth is positively strengthened by an increase in R&D expenditure. 相似文献
15.
Wen-Bin Chuang To-Han Chang Hui-lin Lin 《Technology Analysis & Strategic Management》2013,25(10):1239-1254
This study examined the moderating effects of two kinds of internal R&D (parent R&D and subsidiary R&D) on the relationship between local R&D outsourcing and subsidiary productivity as internal R&D challenges the collaborative relationships in the local environment. Due to the specific feature of a subsidiary mandate, we further investigate whether two distinct kinds of internal R&D have different moderating effects between exploitation-oriented subsidiaries and exploration-oriented subsidiaries, based on a sample of longitudinal data set of 263 Taiwan-based manufacturing subsidiaries over the period 2006–2009. The empirical results show that for exploitation-oriented subsidiaries parent R&D plays a significant and negative moderating role on the impact of local R&D outsourcing based on local collaboration, while a positive moderating role is observed with parent R&D and subsidiary R&D for exploration-oriented subsidiaries. 相似文献
16.
The purpose of this article is to measure the efficiency of pharmaceutical firms and identify their determinants using Korean and American samples from 1992 to 2004. We document some stylized facts in the patterns and sources of efficiency change in Korean and American pharmaceutical firms. The evidence shows that ownership structure can substantially influence the efficiency of pharmaceutical firms. Especially, institutional ownership rate affects corporate efficiencies negatively, corroborating the myopic institutional investor hypothesis. The hypothesis is supported by both Korean and American samples. However, we find evidence that foreign ownership in Korea promotes efficiency of pharmaceutical firms. It is shown that R&D intensity is positively related to contemporaneous largest ownership rate and prior foreign ownership rate in Korean pharmaceutical firms. In contrast, little evidence is found on the relationship between ownership structure and R&D intensity in the American pharmaceutical industry. These empirical results are robust even after we check the causal links among efficiency, R&D and ownership. 相似文献
17.
Oscar Afonso 《Applied economics》2016,48(32):2973-2993
This article proposes a theoretical knowledge-driven horizontal research and development (R&D) endogenous-growth model to explain, for 10 innovative countries, the co-movement of the respective R&D intensity, economic growth and firm-size growth, by exploring short-medium-run and long-run growth effects. Bearing in mind some recent literature, we improve the R&D technology, by considering that R&D is more labour intensive through time as complexity increases, that the diffusion of designs is affected by coordination, organizational and transportation costs, and that a potential entrant will come up with the right idea is reduced because of the presence of a larger number of entrants. We show that when the economy is not initially in a steady state, it can take a saddle path towards the unique and locally saddle-path stable interior steady state. Both transitional-dynamics and steady-state behaviours of our theoretical model are then consistent with, respectively, the time-series and the cross-sectional evidence. 相似文献
18.
Valdemar Smith Mogens Dilling-Hansen Tor Eriksson Erik Str?jer Madsen 《Applied economics》2013,45(16):1797-1806
The aim of the paper is to examine the relationship between R&D capital and productivity using microdata for Danish manufacturing firms. The influence of factors such as ownership, innovative characteristics and source of funding accounted for. The return to accumulated R&D capital is estimated to be in the neighbourhood of 9–12%, whereas the short-run effect of R&D is insignificant. Furthermore, the direct influence from foreign ownership, source of funding accounted for, innovative characteristics and ownership dispersion on productivity are analysed. However, none of the factors seem to have an impact on firm productivity. The same is the case for the indirect influence coming from interaction with accumulated R&D capital. 相似文献
19.
Anders S⊘rensen Hans Christian Kongsted Mats Marcusson 《Economics of Innovation and New Technology》2013,22(2):163-178
The purpose of this paper is to investigate the relationship between private R&D, public innovation support transferred to the private sector, and productivity in Danish manufacturing. Two main conclusions are established. First, public innovation support has a positive and significant effect on private R&D expenditures with an estimated elasticity of 0.062. Second, the indirect effect on productivity from public innovation support is reflected in a positive point estimate which is found to be robust to different specifications of R&D capital. 相似文献
20.
Rajeev K. Goel 《Bulletin of economic research》1990,42(3):211-227
This paper examines the relationship between inputs in industrial production. The inputs studied here are capital, labor, and research and development (R&D). Using translog technology, our cross-industry analysis of six industries reveals that capital and labor are complements in production while R&D and labor are substitutes. However, the relationship between capital and R&D is not so clear cut. It is also found that constant-returns-to-scale hold for only two of the six industries. A test of sensitivity to changes in the R&D depreciation rates suggests that some industries are sensitive to such changes. 相似文献