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R&D and productivity in OECD firms and industries: A hierarchical meta-regression analysis

Ugur, M.; Trushin, E.; Solomon, E.; Guidi, F.

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Authors

M. Ugur

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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