Capital, Labour, Materials and Additional R&D Investment in Japan. The Issue of (Double-) Counting
Marga Peeters () and
Paul Ghijsen ()
No 1995009, Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) from Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES)
R&D components are investigated in dynamic factor demand models, using a pooled data set. Models where information on R&D is (double or ) wrongly counted and (once or) correctly counted are compared by GMM estimates, (non-)nested GMM tests and residual analyses. The results indicate that R&D contributes significantly to the explanation of capital, labour, energy and materials demand in the Japanese manufacturing industry. A double counting of R&D is even preferred to not incorporating R&D as a separate production factor. Furthermore, R&D turns out to be a heterogeneous production factor with production potentials differing among its components.
JEL-codes: C32 C33 C52 E22 E23 (search for similar items in EconPapers)
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Journal Article: Capital, Labour, Materials and Additional R&D Investment in Japan - The Issue of Double-Counting (2000)
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Persistent link: https://EconPapers.repec.org/RePEc:ctl:louvir:1995009
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