Measuring the Returns to R&D

Bronwyn Hall, Jacques Mairesse and Pierre Mohnen

Chapter Chapter 24 in Handbook of the Economics of Innovation, 2010, vol. 2, pp 1033-1082 from Elsevier

Abstract: We review the econometric literature on measuring the returns to R&D. The theoretical frameworks that have been used are outlined, followed by an extensive discussion of measurement and econometric issues that arise when estimating the models. We then provide a series of tables summarizing the major results that have been obtained and conclude with a presentation of R&D spillover returns measurement. In general, the private returns to R&D are strongly positive and somewhat higher than those for ordinary capital, while the social returns are even higher, although variable and imprecisely measured in many cases.

Keywords: model estimation; private returns; research and development; returns measurement; social returns; theoretical frameworks; O30; O37; C23; C81; D24 (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (392)

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Related works:
Working Paper: Measuring the Returns to R&D (2010)
Working Paper: Measuring the Returns to R&D (2010)
Working Paper: Measuring the Returns to R&D (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:haechp:v2_1033

DOI: 10.1016/S0169-7218(10)02008-3

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