Working Paper #2010-006
Measuring the Returns to R&D
We review the econometric literature on measuring the returns to R&D.
The theoretical frameworks that have been used are outlined, followed by
an extensive discussion of measurement and econometric issues that arise
when estimating the models. We then provide a series of tables
summarizing the major results that have been obtained and conclude with
a presentation of R&D spillover returns measurement. In general, the
private returns to R&D are strongly positive and somewhat higher than
those for ordinary capital, while the social returns are even higher,
although variable and imprecisely measured in many cases.
- Keywords
-
- returns to R&D
- innovation
- social returns
- spillovers UNU-MERIT Working Papers ISSN 1871-9872
- JEL codes
-
- O30
- O37
- C23
- C81
- D24
Cite this as
APA 7th ed.Hall, B., Mairesse, J., & Mohnen, P. (2010). Measuring the Returns to R&D (UNU-MERIT Working Paper No. 2010-006). UNU-MERIT. https://unu-merit.nl/publications/working-papers/abstract/?id=3894