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| Content Provider | Springer Nature Link |
|---|---|
| Author | Becker, Bettina Hall, Stephen G. |
| Copyright Year | 2012 |
| Abstract | Most studies investigating the determinants of R&D investment consider pooled estimates. However, if the parameters are heterogeneous, pooled coefficients may not provide reliable estimates of individual industry effects. Hence pooled parameters may conceal valuable information that may help target government tools more efficiently across heterogeneous industries. There is little evidence to date on the decomposition of the determinants of R&D investment by industry. Moreover, the existing work does not distinguish between those R&D determinants for which pooling may be valid and those for which it is not. In this paper, we test the pooling assumption for a panel of manufacturing industries and find that pooling is valid only for output fluctuations, adjustment costs and interest rates. Implementing the test results into our model, we find government funding is significant only for low-tech R&D. Foreign R&D and skilled labour matter only in high-tech sectors. These results suggest important implications for R&D policy. |
| Starting Page | 183 |
| Ending Page | 202 |
| Page Count | 20 |
| File Format | |
| ISSN | 15739414 |
| Journal | Economic Change and Restructuring |
| Volume Number | 46 |
| Issue Number | 2 |
| e-ISSN | 15740277 |
| Language | English |
| Publisher | Springer US |
| Publisher Date | 2012-02-24 |
| Publisher Place | Boston |
| Access Restriction | One Nation One Subscription (ONOS) |
| Subject Keyword | Research and development Pooling Panel data estimation Development Economics International Economics Economic Systems Macroeconomics/Monetary Economics Economic Growth Economic Policy |
| Content Type | Text |
| Resource Type | Article |
| Subject | Economics and Econometrics |
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