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Does federally financed business R&D matter for US productivity growth?

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  • Werner Bonte

Abstract

This paper investigates the impact of federally financed business R&D on productivity of the US nonfarm business sector. Results of a cointegration analysis suggest that a long run relation between productivity and total (privately and federally financed) R&D capital stock exists. Moreover, the estimation results do not confirm the finding of previous empirical studies that the productivity effects of federally financed business R&D are lower compared with those of privately financed business R&D.

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  • Werner Bonte, 2003. "Does federally financed business R&D matter for US productivity growth?," Applied Economics, Taylor & Francis Journals, vol. 35(15), pages 1619-1625.
    • Handle: RePEc:taf:applec:v:35:y:2003:i:15:p:1619-1625
    DOI: 10.1080/0003684032000125079
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    References listed on IDEAS

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    1. Chihwa Kao & Min‐Hsien Chiang & Bangtian Chen, 1999. "International R&D Spillovers: An Application of Estimation and Inference in Panel Cointegration," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 61(S1), pages 691-709, November.
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    6. Lichtenberg, Frank R & Siegel, Donald, 1991. "The Impact of R&D Investment on Productivity--New Evidence Using Linked R&D-LRD Data," Economic Inquiry, Western Economic Association International, vol. 29(2), pages 203-229, April.
    7. Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, vol. 12(2-3), pages 231-254.
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    13. repec:bla:obuest:v:61:y:1999:i:0:p:691-709 is not listed on IDEAS
    14. Osterwald-Lenum, Michael, 1992. "A Note with Quantiles of the Asymptotic Distribution of the Maximum Likelihood Cointegration Rank Test Statistics," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 54(3), pages 461-472, August.
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    Cited by:

    1. Kurt Hornschild & Stephan Raab & Jörg-Peter Weiß, 2005. "Die Medizintechnik am Standort Deutschland: Chancen und Risiken durch technologische Innovationen, Auswirkungen auf und durch das nationale Gesundheitssystem sowie potentielle Wachstumsmärkte im Ausla," DIW Berlin: Politikberatung kompakt, DIW Berlin, German Institute for Economic Research, edition 2, volume 10, number pbk10, July.
    2. Bergman, Karin, 2011. "Productivity Effects of Privately and Publicly Funded R&D," Working Papers 2011:28, Lund University, Department of Economics.
    3. Møen, Jarle, 2018. "Corporate returns to subsidized R&D projects: Direct grants vs tax credit financing," Discussion Papers 2018/9, Norwegian School of Economics, Department of Business and Management Science.
    4. Luo, Zhengying & Chiu, Yung-Ho & Tang, Lingling & Xu, Yayun & Lu, Ching-Cheng, 2016. "Industrial Enterprises' Innovation Efficiency And The Influence Of Capital Source: Based On Statistical Data Of Industrial Enterprises In Jiangsu Province," Hitotsubashi Journal of Economics, Hitotsubashi University, vol. 57(2), pages 175-193, December.
    5. Spyros Arvanitis & Nora Sydow & Martin Woerter, 2005. "Is There Any Impact of University-Industry Knowledge Transfer on the Performance of Private Enterprises? - An Empirical Analysis Based on Swiss Firm Data," KOF Working papers 05-117, KOF Swiss Economic Institute, ETH Zurich.
    6. Martin Falk, 2004. "An Empirical Analysis of Factors Explaining the Level of R&D Subsidies and their Productivity Effects. Evidence from Firm-Level Panel Data," WIFO Studies, WIFO, number 25317.
    7. Aurora A. C. Teixeira, 2004. "How Has the Portuguese Innovation Capability Evolved? Estimating a Time Series of the Stock of Technological Knowledge, 1960-2001," FEP Working Papers 153, Universidade do Porto, Faculdade de Economia do Porto.

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