Measuring the Returns to R&D
Jacques Mairesse () and
Pierre Mohnen ()
No 2010-006, MERIT Working Papers from United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT)
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.
Keywords: returns to R&D; innovation; social returns; spillovers (search for similar items in EconPapers)
JEL-codes: O30 O47 C23 C81 D24 (search for similar items in EconPapers)
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Chapter: Measuring the Returns to R&D (2010)
Working Paper: Measuring the Returns to R&D (2010)
Working Paper: Measuring the Returns to R&D (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:unm:unumer:2010006
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