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Developing an R&D satellite account for the UK: a preliminary analysis

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  • Fernando Galindo-Rueda

    (Office for National Statistics)

Abstract

Presents preliminary analysis treating expenditure on research and experimental development as investment in an intangible scientific assetThis article presents preliminary analysis treating expenditure on research and experimental development (R&D) as investment in an intangible scientific asset, in line with ongoing revisions to the UN System of National Accounts. The purpose of this analysis is to communicate to users of statistics the potential impacts of capitalising R&D in the National Accounts in a new set of satellite accounts. Capitalising R&D raises the level of UK GDP by approximately 1.5 per cent, but has limited impact on estimates of recent GDP growth. These figures are preliminary, based on experimental methods, and should therefore be interpreted with caution. The author welcomes comments and complementary evidence that can be used to substantiate or revise the assumptions made throughout this article. Economic & Labour Market Review (2007) 1, 18–29; doi:10.1057/palgrave.elmr.1410184

Suggested Citation

  • Fernando Galindo-Rueda, 2007. "Developing an R&D satellite account for the UK: a preliminary analysis," Economic & Labour Market Review, Palgrave Macmillan;Office for National Statistics, vol. 1(12), pages 18-29, December.
    • Handle: RePEc:pal:ecolmr:v:1:y:2007:i:12:p:18-29
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    Cited by:

    1. Mariela Dal Borgo & Peter Goodridge & Jonathan Haskel & Annarosa Pesole, 2013. "Productivity and Growth in UK Industries: An Intangible Investment Approach," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 75(6), pages 806-834, December.
    2. Carol Corrado & Jonathan Haskel & Cecilia Jona-Lasinio & Massimiliano Iommi, 2012. "Intangible Capital and Growth in Advanced Economies: Measurement Methods and Comparative Results," Economics Program Working Papers 12-03, The Conference Board, Economics Program.
    3. Zuzana Křístková, 2012. "Impact of R&D Investment on Economic Growth of the Czech Republic - A Recursively Dynamic CGE Approach," Prague Economic Papers, Prague University of Economics and Business, vol. 2012(4), pages 412-433.
    4. Stoneman, Paul, 2011. "Soft Innovation: Economics, Product Aesthetics, and the Creative Industries," OUP Catalogue, Oxford University Press, number 9780199697021.
    5. Zuzana Smeets Kristkova, 2011. "Impact of R&D investments on the economic growth of the Czech Republic – a recursively dynamic CGE approach," EcoMod2011 3137, EcoMod.

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