What Determines Industrial R&D Expenditure in the UK?

Nigel Pain ()
Authors registered in the RePEc Author Service: Gonzalo Camba-Mendez, Bettina Becker () and Joseph Gerson Pearlman

No 211, National Institute of Economic and Social Research (NIESR) Discussion Papers from National Institute of Economic and Social Research

Abstract: The purpose of this paper is to try and identify some of the factors behind the comparatively poor R&D performance of the UK in the 1990s, a decade when R&D intensity in the business sector declined consistently. We estimate an econometric model of R&D expenditure using a panel of UK manufacturing industries. Our results highlight the importance of industry characteristics such as sales and profitability, product market competition, macroeconomic factors such as real long-term interest rates and the real effective exchange rate, skilled labour, and the composition of R&D expenditure and funding. A rise in either the share of R&D funded by the government or the share of R&D undertaken by foreign firms is found to have a significant positive impact on the aggregate level of R&D expenditure.

Date: 2003-05
New Economics Papers: this item is included in nep-eec and nep-ind
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Journal Article: WHAT DETERMINES INDUSTRIAL R&D EXPENDITURE IN THE UK?* (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:nsr:niesrd:211

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