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Measuring the Returns to R&D

Bronwyn Hall, Jacques Mairesse () and Pierre Mohnen ()

CIRANO Working Papers from CIRANO

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. Nous faisons un survol de la littérature économétrique qui mesure les rendements de la recherche-développement. Nous esquissons les modèles théoriques sousjacents et nous discutons en détail les problèmes de mesure et d'économétrie qui se posent quand il s'agit d'estimer ces modèles. Ensuite, nous présentons une série de tableaux qui résument les principaux résultats qui ont été obtenus et nous finissons par une discussion des mesures d'externalité de la recherche. En général, les rendements privés de la recherche sont positifs et légèrement plus élevés que ceux de l'investissement en capital physique et les taux de rendement sociaux de la R-D sont encore plus élevés, mais fragiles et imprécis.

Keywords: returns to R&D; innovation; social returns; spillovers; rendements de la R&D; innovation; rendements sociaux; externalités (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ino
Date: 2010-01-01
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https://cirano.qc.ca/files/publications/2010s-02.pdf

Related works:
Chapter: Measuring the Returns to R&D (2010) Downloads
Working Paper: Measuring the Returns to R&D (2010) Downloads
Working Paper: Measuring the Returns to R&D (2009) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:cir:cirwor:2010s-02

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