Rates of Return for Industrial R&D in Chile

Jose Miguel Benavente, Jose De Gregorio and Marco Núñez

Working Papers from University of Chile, Department of Economics

Abstract: Using a panel data of innovative Chilean firms, we obtain a private return for R&D expenditure close to 30% during the nineties. Despite the fact of being almost twice the return obtained for physical capital - 17 %, results show that R&D expenditure causes contemporaneous negative impacts over firms’ profits suggesting that a learning process is in place. Nevertheless, after two years, the net effect is positive and may explain why private participation in research activities is still very low in Chile.

Keywords: R&D return; Manufacturing; Chile. (search for similar items in EconPapers)
Date: 2006-09
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Citations: View citations in EconPapers (4)

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