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Measuring the Returns to R&D
Wed, 02/24/2010 - 11:55 — Cristina Sette
Publication Type:
MiscellaneousSource:
United Nations University - Maastricht Economic and social Research and training centre on Innovation and Technology, Maastricht, The Netherlands (2010)URL:
http://www.merit.unu.edu/publications/wppdf/2010/wp2010-006.pdfKeywords:
ILAC Newsletter; Innovation; returns to R&D; social returns; spilloversAbstract:
We review the econometric literature on measuring the returns to R&D. The theoretical frameworks that have been used are outlined, followed by an extensive discussion of measurement and econometric issues that arise when estimating the models. We then provide a series of tables summarizing the major results that have been obtained and conclude with a presentation of R&D spillover returns measurement. In general, the private returns to R&D are strongly positive and somewhat higher than those for ordinary capital, while the social returns are even higher, although variable and imprecisely measured in many cases.Sublibrary:
Innovation