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Productivity and R&D : An econometric evidence from Spanish firm-level data


Maté-García, Jorge-Julio; Rodríguez-Fernández, José-Miguel


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Abstract This paper analyses the relationship between productivity growth and R&D investments of Spanish manufacturing firms during the 1990s. The theoretical model is a version of the Cobb-Douglas production function in its growth rate form. The purpose is to estimate the rate of return to R&D expenditures. The econometric specification is a distributed lag model. The estimation applies the GMM method. The main empirical finding is that a positive and significant role is played by R&D expenditures on productivity growth. The rate of return to R&D expenditures is 26.598 per cent.
Thesaurusschlagwörter productivity; Spain; research and development
Klassifikation Volkswirtschaftstheorie; Wirtschaftsstatistik, Ökonometrie, Wirtschaftsinformatik
Methode Theorieanwendung
Freie Schlagwörter Productivity; R&D expenditures; Firm panel data; Spanish manufacturing firms; Generelized methods of moments; GMM
Sprache Dokument Englisch
Publikationsjahr 2008
Seitenangabe S. 1827-1837
Zeitschriftentitel Applied Economics, 40 (2008) 14
DOI http://dx.doi.org/10.1080/00036840600905217
Status Postprint; begutachtet (peer reviewed)
Lizenz PEER Licence Agreement (applicable only to documents from PEER project)