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Erscheinungsjahr: 
2016
Schriftenreihe/Nr.: 
Working Paper No. 15/2016
Verlag: 
Norges Bank, Oslo
Zusammenfassung: 
This paper quantifies the determinants of heterogeneity in R&D investment and its implications for growth. Using a panel of Norwegian manufacturing firms we document a negative correlation between R&D intensity and firm size, driven mainly by small firms with high R&D intensity. We estimate a Schumpeterian growth model with heterogeneous firms, that differ with respect to innovation efficiency. The estimated model fits the shape of the R&D investment distribution as well as the negative correlation between R&D intensity and firm size. A larger selection effect contribution to aggregate growth is found when we include R&D moments in the estimation. Finally, we study the link between firm heterogeneity and R&D subsidies, and show that the growth effects of subsidies depend crucially on how the policy influences the equilibrium distribution of firms.
Schlagwörter: 
R&D
heterogeneous firms
subsidies
growth
JEL: 
L11
O3
O4
Persistent Identifier der Erstveröffentlichung: 
ISBN: 
978-82-7553-938-8
Creative-Commons-Lizenz: 
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Dokumentart: 
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