Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/109962
Authors: 
Ugur, Mehmet
Solomon, Edna
Guidi, Francesco
Trushin, Eshref
Year of Publication: 
2015
Abstract: 
Effects of R&D investment on frim/industry productivity have been investigated widely thanks to pioneering contributions by Zvi Griliches and others in late 1970s and early 1980s. We aim to establish where the balance of the evidence lies and what factors may explain the variation in the research findings. Using 1,258 estimates from 65 primary studies and hierarchical meta-regression models, we report that the average elasticity and rate-of-return estimates are both positive, but smaller than those reported in prior narrative reviews and meta-analysis studies. We discuss the likely sources of upward bias in prior reviews, investigate the sources of heterogeneity in the evidence base, and discuss the implications for future research. Overall, this study contributes to existing knowledge by placing the elasticity and rate-of-return estimates under a critical spot light and providing empirically-verifiable explanations for the variation in the evidence base.
Subjects: 
R&D
knowledge capital
productivity
meta-analysis
JEL: 
D24
O30
O32
C49
Document Type: 
Preprint

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