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Types of R&D investment and firm productivity: UK evidence on heterogeneity and complementarity in rates of return
Economics of Innovation and New Technology ( IF 3.2 ) Pub Date : 2020-12-02 , DOI: 10.1080/10438599.2020.1846249
Edna Maeyen Solomon 1
Affiliation  

ABSTRACT

Existing evidence on the impact of R&D on productivity is heterogenous and does not address the question of whether different types of R&D are complements or substitutes. The aim of this research is to open the R&D black box by providing fresh insights about how different R&D types affect productivity in different industrial and technological contexts in the UK. The model adopted allows for non-linearities between R&D and productivity and interactions between R&D types. The analysis makes use of micro data from the Office of National Statistics, comprising 8284 firms from 1998 to 2012. The results show evidence of diminishing marginal returns to total R&D. This concave relationship also holds for intramural R&D, applied/experimental R&D and private R&D. These findings suggest that studies which do not allow for non-linear relationships between R&D and productivity could suffer from specification bias. The results also indicate complementarity between intramural and extramural R&D and between basic and applied/experimental research. Returns to publicly funded R&D are insignificant and there is neither complementarity nor substitution between publicly and privately funded R&D. The findings strengthen the case for modelling the sources of heterogeneity explicitly by taking into account non-linearities and interactions between the different R&D types and productivity.



中文翻译:

研发投资类型和企业生产力:英国关于回报率异质性和互补性的证据

摘要

关于研发对生产力影响的现有证据是异质的,并没有解决不同类型的研发是互补还是替代的问题。这项研究的目的是通过提供有关不同研发类型如何影响英国不同工业和技术背景下的生产力的新见解,打开研发黑匣子。采用的模型考虑到研发与生产力之间的非线性以及研发类型之间的相互作用。该分析利用了国家统计局的微观数据,其中包括 1998 年至 2012 年的 8284 家公司。结果表明,总 R&D 的边际收益递减。这种凹关系也适用于校内研发、应用/实验研发和私人研发。这些发现表明,不允许研发与生产力之间存在非线性关系的研究可能会受到规格偏差的影响。结果还表明校内和校外研发之间以及基础和应用/实验研究之间的互补性。公共资助研发的回报微不足道,公共资助和私人资助的研发之间既没有互补性也没有替代性。通过考虑非线性以及不同研发类型和生产力之间的相互作用,这些发现加强了对异质性来源进行明确建模的理由。D 以及介于基础研究和应用/实验研究之间。公共资助研发的回报微不足道,公共资助和私人资助的研发之间既没有互补性也没有替代性。通过考虑非线性以及不同研发类型和生产力之间的相互作用,这些发现加强了对异质性来源进行明确建模的理由。D 以及介于基础研究和应用/实验研究之间。公共资助研发的回报微不足道,公共资助和私人资助的研发之间既没有互补性也没有替代性。通过考虑非线性以及不同研发类型和生产力之间的相互作用,这些发现加强了对异质性来源进行明确建模的理由。

更新日期:2020-12-02
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