Business R&D expenditure and capital in Europe

Christian Helmers (christian.r.helmers@gmail.com), Christian Schulte (christian.schulte@lrz.uni-muenchen.de) and Hubert Strauss (h.strauss@eib.org)
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Christian Schulte: Ludwig-Maximilians-Universität München
Hubert Strauss: European Investment Bank, Economic and Financial Studies

No 2/2009, EIB Papers from European Investment Bank, Economics Department

Abstract: This study presents new estimates of business R&D capital stocks for 22 countries at the aggregate and industry levels. At 9 percent of GDP, the EU business R&D capital stock falls short of its US and Japanese counterparts. Within the EU, R&D capital stocks are much lower in the southern and the new member states, reflecting large and persistent disparities in R&D expenditure. There was hardly any convergence over the past decade. The R&D capital stock is concentrated on three technologyintensive manufacturing industries and is positively correlated with growth in total factor productivity across countries and industries. Finally, the ratios between the stocks of R&D capital and tangible capital suggest marked differences in how R&D and tangible capital are combined in production.

Keywords: R&D capital stock; R&D expenditure; tangible capital stock; R&D intensity; high-tech manufacturing (search for similar items in EconPapers)
JEL-codes: E22 L60 O30 O47 (search for similar items in EconPapers)
Pages: 25 pages
Date: 2009-12-23
New Economics Papers: this item is included in nep-bec, nep-eec, nep-eff, nep-ino, nep-mac and nep-sbm
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ris:eibpap:2009_002

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