Modelling the joint impact of R&D and ICT on productivity: A frontier analysis approach
Fabio Pieri (),
Michela Vecchi () and
Francesco Venturini ()
Research Policy, 2018, vol. 47, issue 9, 1842-1852
This study explores the channels through which technological investments affect productivity performance of industrialized economies. Using a Stochastic Frontier Model (SFM) we estimate the productivity effects of R&D and ICT for a large sample of OECD industries between 1973 and 2007, identifying four channels of transmission: input accumulation, technological change, technical efficiency and spillovers. Our results show that ICT has been particularly effective in reducing production inefficiency and in generating inter-industry spillovers, while R&D has raised the rate of technical change and favoured knowledge spillovers within sectors. We also quantify the contribution of technological investments to output and total factor productivity growth documenting that R&D and ICT accounted for almost 95% of productivity growth in the OECD area.
Keywords: Research & development; Information and communication technology; Productivity; Stochastic Frontier Models (search for similar items in EconPapers)
JEL-codes: O14 O32 O47 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:respol:v:47:y:2018:i:9:p:1842-1852
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