r&d

Measuring FirmsAAA R&D Effects on Technical Progress: Japan in the 1990s

January 01, 2004

The authors present a method based on index number theory for estimating technical progress
and then apply it for estimating technical progress for Japanese manufacturing firms in the 1990s. Estimated technical progress is then used to test the above Griliches hypothesis.

R&D, Agency Costs and Capital Structure: International Evidence

January 01, 2004

The authors examine the impact of research and development (R&D) intensity and agency costs on the value of firms across 13 economies. Findings indicate that R&D adds value while high agency costs reduce value. R&D adds value, however, even when agency costs are high.

Federal Research: Information on DOEs Laboratory-Directed R&D Program

January 01, 2004

The report from the Government Accountability Office addresses eleven questions regarding the Department of Energys Laboratory Directed Research and Development (LDRD) program. From fiscal year 1998 through fiscal year 2003, DOE’s contractor operated laboratories spent a total of $1.8 billion, or an average of $296 million per year on LDRD.

R&D: A Small Contribution to Productivity Growth

January 01, 2004

The author evaluate the contribution of research and development (R&D) investments to productivity growth. The resulting contribution of R&D to productivity growth in the U.S. is smaller than three to five tenths of one percentage point. This constitutes an upper bound for the case where innovators internalize the consequences of their R&D investments on the cost of conducting
future innovations.

On the Timing of Innovation in Stochastic Schumpeterian Growth Models

January 01, 2004

The paper argues that while it is optimal to concentrate growth-enhancing activities in downturns, dynamic spillovers inherent to the research and development (R&D) process lead private agents to concentrate too much of their R&D
activity in booms, precisely when its social cost is highest.

Private R&D and Public R&D Subsidies: Microeconometric Evidence from Denmark

January 01, 2004

The paper shows that public research subsidies do not have a significant effect on private research and development expenditures of non-public Danish firms that perform R&D and have more than ten employees.

Market Power Versus Efficiency Effects of Mergers and Research Joint Ventures: Evidence from the Semiconductor Industry

January 01, 2004

The authors present evidence for the semiconductor industry that research joint ventures (RJVs) indeed represent viable alternatives to mergers. They present evidence that joint ventures, and in particular, RJVs, may achieve comparable efficiencies possibly without the anti-competitive (market power) effects of mergers.

Cooperative and Non-Cooperative R&D Policy in an Economic Union

January 01, 2004

The authors construct a simple model with horizontally differentiated consumer goods, where each firm may invest in quality-improving research and development (R&D) to address issues of cooperative and non-cooperative R&D policy.

Location of R&D and High-Tech Production by Vertically Integrated Multinationals

January 01, 2004

The paper presents evidence that in Europe, production of high-tech goods is attracted to large markets, while research and development (R&D) activities tend to be located away from them. In order to explain this phenomenon, the authors develop a two-country general equilibrium model where firms make separate choices about the location of R&D and high-tech production.

Overcoming Natural Resource Constraints Through R&D

January 01, 2004

The authors study the optimal policies of research and development in the context of a resource-exploiting economy, distinguishing two cases: non-renewable resources and renewable resources.

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