Boosting Manufacturing Productivity Through R&D: International Comparisons with Special Focus on Italy

Alessandro Sterlacchini () and Francesco Venturini ()

No 306, Working Papers from Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali

Abstract: Using data for twelve manufacturing industries of five developed countries over the period 1980-2002, we perform a dynamic panel estimation - based on a ECM model - of the long-run elasticity of TFP with respect to the stock of R&D capital. The highest elasticity is found for the US (0.51) while lower values arise for Germany (0.29), France (0.23) and Spain (0.22); the latter, in turn, are higher than that estimated for Italy (0.14). The unsatisfactory performance of Italian manufacturing industries is confirmed by further analyses in which a better measurement of TFP is provided and the time period extended. The above findings and their policy implications are discussed firstly in the light of the US-EU divide in terms of R&D-induced productivity growth and, subsequently, by focussing on the Italian case.

Keywords: R&D capital stock; manufacturing industries; productivity growth (search for similar items in EconPapers)
JEL-codes: L6 O3 O4 (search for similar items in EconPapers)
Pages: 30
Date: 2007-12
New Economics Papers: this item is included in nep-eec, nep-eff and nep-ino
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

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Journal Article: Boosting Manufacturing Productivity Through R&D: International Comparisons with Special Focus on Italy (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:anc:wpaper:306

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