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Productivity and R&D: An econometric evidence from Spanish firm-level data
[journal article]
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.... view more
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.... view less
Keywords
productivity; research and development; Spain
Classification
National Economy
Economic Statistics, Econometrics, Business Informatics
Method
theory application
Free Keywords
Productivity; R&D expenditures; Firm panel data; Spanish manufacturing firms; Generelized methods of moments; GMM
Document language
English
Publication Year
2008
Page/Pages
p. 1827-1837
Journal
Applied Economics, 40 (2008) 14
DOI
https://doi.org/10.1080/00036840600905217
Status
Postprint; peer reviewed
Licence
PEER Licence Agreement (applicable only to documents from PEER project)