R&D, Innovation And The Total Factor Productivity Slowdown
- Topics:
- Organization
- Source:
- Yale University
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Overview: This paper presents an industry-level analysis of the links between techno-logical change and total factor productivity growth. Over the past few decades, numerous studies have documented the links between technological change and productivity growth, generally using Research And Development (R&D) expenditures as an indicator of the intensity of technological change'. There are many steps, however, in the path leading from R&D expenditures to productivity. The R&D has to lead to successful innovation, which in turn has to be commercialised and adopted widely. Nevertheless, these studies have generally found high rates of return to R&D as compared with other forms of investment, and argue by implication that a disproportionate share of growth can be attributed to new technologies.
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Format: PDF | Size: 368KB | Date: Aug 2005 | Pages: 35
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