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Title:Business R&D expenditure and capital in Europe PDF Logo
Authors:Helmers, Christian
Schulte, Christian
Strauss, Hubert
Issue Date:2009
Citation:[Journal:] EIB Papers [ISSN:] 0257-7755 [Volume:] 14 [Year:] 2009 [Issue:] 1 [Pages:] 36-61
Abstract:This study presents new estimates of business R&D capital stocks for 22 countries at the aggregate and industry levels. At 9 percent of GDP, the EU business R&D capital stock falls short of its US and Japanese counterparts. Within the EU, R&D capital stocks are much lower in the southern and the new member states, reflecting large and persistent disparities in R&D expenditure. There was hardly any convergence over the past decade. The R&D capital stock is concentrated on three technologyintensive manufacturing industries and is positively correlated with growth in total factor productivity across countries and industries. Finally, the ratios between the stocks of R&D capital and tangible capital suggest marked differences in how R&D and tangible capital are combined in production.
Document Type:Article
Appears in Collections:EIB Papers, European Investment Bank (EIB)

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