R&D and productivity in OECD firms and industries: A hierarchical meta-regression analysis
Mehmet Ugur (),
Eshref Trushin,
Edna Solomon and
Francesco Guidi
Research Policy, 2016, vol. 45, issue 10, 2069-2086
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.
Keywords: R&D; Knowledge capital; Productivity; Meta-analysis (search for similar items in EconPapers)
JEL-codes: C49 C80 D24 O30 O32 (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (51)
Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0048733316301160
Full text for ScienceDirect subscribers only
Related works:
Working Paper: R&D and productivity in OECD firms and industries: a hierarchical meta-regression analysis (2016) 
Working Paper: R&D and productivity in OECD firms and industries: a hierarchical meta-regression analysis (2015) 
Working Paper: R&D and productivity in OECD firms and industries: A hierarchical meta-regression analysis (2015) 
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:eee:respol:v:45:y:2016:i:10:p:2069-2086
DOI: 10.1016/j.respol.2016.08.001
Access Statistics for this article
Research Policy is currently edited by M. Bell, B. Martin, W.E. Steinmueller, A. Arora, M. Callon, M. Kenney, S. Kuhlmann, Keun Lee and F. Murray
More articles in Research Policy from Elsevier
Bibliographic data for series maintained by Catherine Liu ().