European productivity gaps: Is R&D the solution?
Meister, Christoph and Verspagen, Bart (2004). European productivity gaps: Is R&D the solution?. UNU-MERIT Research Memoranda. UNU-MERIT.
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Sub-type Working paper Author Meister, Christoph
Verspagen, BartTitle European productivity gaps: Is R&D the solution? Series Title UNU-MERIT Research Memoranda Volume/Issue No. 5 Publication Date 2004 Publisher UNU-MERIT Language eng Abstract This paper investigates the potential impact of increased business R&D efforts in Europe on the total factor productivity gap between European and U.S. industry. The paper addresses Europe's ambition, expressed at the 2000 Lisbon Summit to become 'the most competitive and dynamic knowledge-based economy in the world', and the 3% R&D intensity target for Europe formulated at the 2001 Barcelona Summit. Based on existing empirical models from the literature on productivity and R&D expenditures, we provide projections on the expected productivity impacts of increased R&D in manufacturing industries. The results suggest that raising European R&D is not a complete solution to the European productivity backlog relative to the U.S. We also find that the most dramatic impacts may be expected from raising R&D in so-called low-tech sectors. Copyright Year 2004 Copyright type All rights reserved -
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