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The Impact Of R&D Investment On Productivity

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  • Steliana Sandu
  • Cristina Modoran

Abstract

In the context of the national and European efforts directed to increasing of R&D investment up to 3% of GDP, the debate on the effects of R&D investment has received a new impetus last time. Starting from theoretical and methodological approaches found in the current scientific literature regarding this issue, the paper is focused on the empirical analysis of the effect of R&D investment on total factor productivity in Romania for the period 1996-2006. The results obtained, in line with current research results in Romania or abroad, could be taken into consideration in political decision of R&D investment and in finding appropriate economic measures aiming to stimulate business R&D investment.

Suggested Citation

  • Steliana Sandu & Cristina Modoran, 2008. "The Impact Of R&D Investment On Productivity," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 2(10), pages 1-18.
    • Handle: RePEc:alu:journl:v:2:y:2008:i:10:p:18
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    References listed on IDEAS

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    1. Dominique Guellec & Bruno Van Pottelsberghe de la Potterie, 2004. "From R&D to Productivity Growth: Do the Institutional Settings and the Source of Funds of R&D Matter?," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 66(3), pages 353-378, July.
    2. Hulya Ulku, 2007. "R&D, innovation, and growth: evidence from four manufacturing sectors in OECD countries," Oxford Economic Papers, Oxford University Press, vol. 59(3), pages 513-535, July.
    3. Rachel Griffith & Stephen Redding & John Van Reenen, 2004. "Mapping the Two Faces of R&D: Productivity Growth in a Panel of OECD Industries," The Review of Economics and Statistics, MIT Press, vol. 86(4), pages 883-895, November.
    4. Leo Sveikauskas, 2007. "R&D and Productivity Growth: A Review of the Literature," Working Papers 408, U.S. Bureau of Labor Statistics.
    5. ULKU HUlya, 2010. "R&D, Invention and Economic Growth: An Empirical Analysis," EcoMod2003 330700146, EcoMod.
    6. Carol Corrado & John Haltiwanger & Daniel Sichel, 2005. "Measuring Capital in the New Economy," NBER Books, National Bureau of Economic Research, Inc, number corr05-1.
    7. Carol A. Robbins, 2006. "R&D Expenditures for the U.S.: A Frascati to System of National Accounts Application to U.s. Data," BEA Papers 0063, Bureau of Economic Analysis.
    8. Dominique Guellec & Bruno van Pottelsberghe de la Potterie, 2003. "R&D and Productivity Growth: Panel Data Analysis of 16 OECD Countries," OECD Economic Studies, OECD Publishing, vol. 2001(2), pages 103-126.
    9. Barbara M. Fraumeni & Sumiye Okubo, 2005. "R&D in the National Income and Product Accounts: A First Look at Its Effect on GDP," NBER Chapters, in: Measuring Capital in the New Economy, pages 275-322, National Bureau of Economic Research, Inc.
    10. Hulya Ulku, 2004. "R&D, Innovation, and Economic Growth: An Empirical Analysis," IMF Working Papers 2004/185, International Monetary Fund.
    11. Toole, Andrew A, 2007. "Does Public Scientific Research Complement Private Investment in Research and Development in the Pharmaceutical Industry?," Journal of Law and Economics, University of Chicago Press, vol. 50(1), pages 81-104, February.
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    Cited by:

    1. Zizi goschin, 2014. "R&D As An Engine Of Regional Economic Growth In Romania," Romanian Journal of Regional Science, Romanian Regional Science Association, vol. 8(1), pages 24-37, JUNE.
    2. Zizi Goschin & Georgiana-Gloria Goschin, 2014. "R&D and Regional Regeneration. The Case of Alba Subregion in Romania," ERSA conference papers ersa14p584, European Regional Science Association.

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    More about this item

    Keywords

    R&D stock; R&D spillover; R&D effect on TPF;
    All these keywords.

    JEL classification:

    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
    • P40 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - General

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