The productivity impact of R&D investment: are high-tech sectors still ahead?

Raquel Ortega-Argil�s, Mariacristina Piva and Marco Vivarelli ()
Authors registered in the RePEc Author Service: Raquel Ortega Argilés

Economics of Innovation and New Technology, 2015, vol. 24, issue 3, 204-222

Abstract: Our aim is to investigate the relationship between a firm's R&D expenditures and its productivity, looking at sectoral peculiarities. We use a unique longitudinal database consisting of 1809 US and European manufacturing and service firms over the period 1990-2008. Our main findings can be summarised as follows. Consistently with previous literature, the knowledge stock has a significant positive impact on a firm's productivity. More interestingly, the coefficient turns out to be significantly larger in the R&D-user services and high-tech manufacturing sectors than in the non-high-tech manufacturing sectors. Contrary to the 'latecomer advantage' approach, these outcomes suggest that firms in high-tech sectors are still ahead in terms of impact on productivity of R&D investments.

Date: 2015
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Citations: View citations in EconPapers (39)

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DOI: 10.1080/10438599.2014.918440

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