Productivity Growth and R&D Expenditure in UK Manufacturing firms
Wakelin, Katherine (1997). Productivity Growth and R&D Expenditure in UK Manufacturing firms. UNU-MERIT Research Memoranda. UNU-MERIT.
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Sub-type Working paper Author Wakelin, Katherine Title Productivity Growth and R&D Expenditure in UK Manufacturing firms Series Title UNU-MERIT Research Memoranda Volume/Issue No. 18 Publication Date 1997 Publisher UNU-MERIT Language eng Abstract This paper analyses the relationship between productivity growth and R&D expenditure at the firm level. A Cobb-Douglas function is estimated for 170 UK quoted firms including R&D intensity as well as the capital to labour ratio. A positive and significant role is found for the firm's own R&D expenditure in influencing productivity growth from 1988-1992; the relationship is no longer significant when sector fixed effects are included. To capture these sector effects, two spillover variables are included: the R&D expenditure of other firms in the same sector, and the weighted R&D expenditure of innovation-supplying industries. The former is found to play a large positive role in productivity growth, increasing it by around 1%, while no significant role is found for the latter. The variation in technological opportunity across sectors appears to play an important role in the efficacy of R&D expenditure. Copyright Year 1997 Copyright type All rights reserved -
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