R&D and absorptive capacity: From theory to data

Arbeitspapier

This paper presents a unified model that integrates the theoretical literatue on Schumpeterian endogenous growth, the microeconometric literature on R&D and productivity, and the empirical literature on productivity convergence. Starting from a structural model of endogenous growth following Aghion and Howitt (1992, 1998), we provide microeconomic foundations for a reduced-form equation for Total Factor Productivity (TFP) growth that is commonly used in the empirical literature. We allow a role for R&D in innovation and technology transfer (absorptive capacity). The analysis suggests that many existing studies underestimate R&D's social rate of return and provides an explanation for long-run productivity levels at the industry level.

Objekt anzeigen

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: IFS Working Papers ; No. 01/03

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Economic Development: General ; Innovation; Research and Development; Technological Change; Intellectual Property Rights: General ; Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
• Thema: Absorptive capacity, endogenous growth, R&D, Total Factor Productivity (TFP) ; Neue Wachstumstheorie ; Produktivität ; Industrielle Forschung ; Theorie

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Griffith, Rachel ; Redding, Stephen ; Van Reenen, John
• Ereignis: Veröffentlichung
• (wer): Institute for Fiscal Studies (IFS)
• (wo): London
• (wann): 2000

Weitere Informationen

• DOI: doi:10.1920/wp.ifs.2001.0103
• Handle: http://hdl.handle.net/10419/71496