Arbeitspapier
Resource misallocation in the presence of R&D spillovers
We study resource misallocation by explicitly modelling R&D input and knowledge spillovers. The effects of R&D and spillovers on firm-level productivity are extensively studied in applied work, but not in the context of resource misallocation. We establish that, in the presence of spillovers, efficient resource allocation requires that more productive firms face higher R&D input prices. Analysing UK firmlevel data, we find that the output gains from correcting misallocation are greatly overestimated when spillovers are ignored. Output losses due to capital distortions dominate those from labour and R&D inputs. Adopting a wrong R&D policy could lead to significant output losses.
- Language
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Englisch
- Bibliographic citation
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Series: Cardiff Economics Working Papers ; No. E2023/24
- Classification
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Wirtschaft
Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
Allocative Efficiency; Cost-Benefit Analysis
Innovation; Research and Development; Technological Change; Intellectual Property Rights: General
Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
- Subject
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resource misallocation
productivity
R&D spillover
the UK manufacturing firms
- Event
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Geistige Schöpfung
- (who)
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Li, Kun
Azacis, Helmuts
Luintel, Kul Bahadur
- Event
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Veröffentlichung
- (who)
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Cardiff University, Cardiff Business School
- (where)
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Cardiff
- (when)
-
2023
- Handle
- Last update
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10.03.2025, 11:42 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Li, Kun
- Azacis, Helmuts
- Luintel, Kul Bahadur
- Cardiff University, Cardiff Business School
Time of origin
- 2023
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