R&D and Productivity in High-Tech Manufacturing: A Comparison between Italy and Spain
Alessandro Sterlacchini () and
Francesco Venturini ()
Industry and Innovation, 2014, vol. 21, issue 5, 359-379
Using data for 12 manufacturing industries over the period 1980-2006, we perform for Italy and Spain a dynamic panel estimation of the long-run elasticity of total factor productivity (TFP) with respect to R&D capital. In spite of recording a level of R&D capital lower than Italian industries, the technology-based industries in Spain have experienced a similar or higher long-run impact on TFP. This is mainly attributable to what occurred from the mid-1990s onwards when, thanks to increasing R&D efforts, the Spanish industries have been able to catch up with respect to the Italian ones. These findings suggest that, also in countries classified as technology followers, R&D investment is a crucial condition for boosting manufacturing productivity.
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Working Paper: R&D and productivity in high-tech manufacturing: a comparison between Italy and Spain (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:taf:indinn:v:21:y:2014:i:5:p:359-379
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