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Deutsches Institut für Wirtschaftsforschung (DIW), Berlin >
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http://hdl.handle.net/10419/18284
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| Title: | | A Schumpeter-inspired approach to the construction of R&D capital stocks  |
| Authors: | | Bitzer, Jürgen Stephan, Andreas |
| Issue Date: | | 2002 |
| Series/Report no.: | | DIW-Diskussionspapiere 300 |
| Abstract: | | A new method for constructing R&D capital stocks is proposed. Following Schumpeter, the development of R&D capital stocks is modelled as a process of creative destruction. Newly generated knowledge is assumed not only to add to the existing R&D capital stocks but also, by displacing old knowledge, to destroy part of that capital. This is in stark contrast to the perpetual inventory method, which postulates a constant rate of depreciation. We compare both methods by estimating the impact of R&D and spillovers on output in OECD countries, and find that the new approach leads to more sensible and robust results. |
| Subjects: | | R&D capital stocks knowledge spillovers creative destruction |
| JEL: | | C82 O31 D62 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Publikationen von Forscherinnen und Forschern des DIW DIW-Diskussionspapiere
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| dp300.pdf | | 178.65 kB | Adobe PDF |
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