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R&D, Innovation, and Technological Progress: A Test of the Schumpeterian Framework without Scale Effects
The report establishes a connection among research and development intensity, patenting, technological change and economic growth. Two-digit SIC code industry data from U.S. manufacturing between 1963-1988 is used. The report suggests that policy makers may conclude from this research that efforts to increase the role of research and development in an economy will have a significant economic impact.
Link
http://www.bus.lsu.edu/economics/papers/pap02_18.pdf