Abstract
One of the benefits claimed for investment in Research and Development (R&D) is that there is a spillover effect. Industries benefit from both their own R&D efforts as well as the efforts of other national and overseas industries. The present research presents new evidence on the long-term impact of R&D investment upon UK industry's productivity performance and on the nature of these "R&D spillovers". The results suggest that R&D efforts from the industry itself and from other national industries have a positive impact on the industry's productivity but, interestingly, there is no gain from foreign R&D investment.
| Original language | English |
|---|---|
| Pages (from-to) | 964-979 |
| Number of pages | 16 |
| Journal | Research policy |
| Volume | 36 |
| Issue number | 7 |
| DOIs | |
| Publication status | Published - 1 Sept 2007 |
Keywords
- Heterogeneous dynamic panel
- R&D spillovers
- Total factor productivity (TFP)