Public Support for Innovation, Intangible Investment and Productivity Growth in the UK Market Sector
Jonathan Haskel () and
Gavin Wallis ()
No 7725, CEPR Discussion Papers from C.E.P.R. Discussion Papers
Pressure on public finances has increased scrutiny of public support for innovation. We examine two particular issues. First, there have been many recent calls for the (relatively new) UK R&D subsidy to be extended to other "research" activities, such as software. Second, argument still rages about the efficacy of direct public spending on R&D via spending on academic research councils, universities, and government undertaken work on civil and military R&D. To evaluate these questions we use data on market sector productivity, R&D and non-R&D intangible assets, and public sector R&D spending. We look for evidence of market sector spillovers from intangible investment and from public R&D. We find (a) no evidence of spillover effects from intangible investment at the market sector level, including from R&D, (b) strong evidence of market sector spillovers from public R&D spend on research councils, and (c) no evidence of market sector spillovers from public spending on civil or defence R&D. Our findings tentatively suggest that for maximum market sector productivity impact government innovation policy should focus on direct spending on research councils.
Keywords: intangible assets; productivity; R&D; spillovers (search for similar items in EconPapers)
JEL-codes: E22 O47 (search for similar items in EconPapers)
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Journal Article: Public support for innovation, intangible investment and productivity growth in the UK market sector (2013)
Working Paper: Public support for innovation, intangible investment and productivity growth in the UK market sector (2013)
Working Paper: Public Support for Innovation, Intangible Investment and Productivity Growth in the UK Market Sector (2010)
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