M. Ugur
R&D and productivity in OECD firms and industries: A hierarchical meta-regression analysis
Ugur, M.; Trushin, E.; Solomon, E.; Guidi, F.
Authors
E. Trushin
E. Solomon
F. Guidi
Abstract
The relationship between R&D investment and firm/industry productivity has been investigated widely following seminal contributions by Zvi Griliches and others from late 1970s onwards. We aim to provide a systematic synthesis of the evidence, using 1253 estimates from 65 primary studies that adopt the so-called primal approach. In line with prior reviews, we report that the average elasticity and rate-of-return estimates are positive. In contrast to prior reviews, however, we report that: (i) the estimates are smaller and more heterogeneous than what has been reported before; (ii) residual heterogeneity remains high among firm-level estimates even after controlling for moderating factors; (iii) firm-level rates of return and within-industry social returns to R&D are small and do not differ significantly despite theoretical predictions of higher social returns; and (iv) the informational content of both elasticity and rate-of-return estimates needs to be interpreted cautiously. We conclude by highlighting the implications of these findings for future research and evidence-based policy.
Citation
Ugur, M., Trushin, E., Solomon, E., & Guidi, F. (2016). R&D and productivity in OECD firms and industries: A hierarchical meta-regression analysis. Research Policy, 45(10), 2069-2086. https://doi.org/10.1016/j.respol.2016.08.001
Journal Article Type | Article |
---|---|
Acceptance Date | Aug 3, 2016 |
Online Publication Date | Aug 16, 2016 |
Publication Date | Dec 1, 2016 |
Deposit Date | Aug 15, 2016 |
Publicly Available Date | Aug 16, 2016 |
Journal | Research Policy |
Print ISSN | 0048-7333 |
Publisher | Elsevier |
Peer Reviewed | Peer Reviewed |
Volume | 45 |
Issue | 10 |
Pages | 2069-2086 |
DOI | https://doi.org/10.1016/j.respol.2016.08.001 |
Public URL | https://durham-repository.worktribe.com/output/1399185 |
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(http://creativecommons.org/licenses/by/4.0/).
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