Ngai, L. Rachel and Samaniego, Roberto M.
Accounting for research and productivity growth across industries.
Review of economic dynamics, 14
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What factors underlie industry differences in research intensity and productivity growth? We develop a multi-sector endogenous growth model allowing for industry-specific parameters in the production functions for output and knowledge, and in consumer preferences. We find that long run industry differences in both productivity growth and R&D intensity mainly reflect differences in “technological opportunities”, interpreted as the parameters of knowledge production. These include the capital intensity of R&D, knowledge spillovers, and diminishing returns to R&D. To investigate the quantitative importance of these factors, we calibrate the model using US industry data. We find that diminishing returns to research activity is the dominant factor.
||© 2009 Elsevier
||multi-sector growth, total factor productivity, R&D intensity, technological opportunity, ISI
|Library of Congress subject classification:
||H Social Sciences > HB Economic Theory
H Social Sciences > HD Industries. Land use. Labor
|Journal of Economic Literature Classification System:
||D - Microeconomics > D2 - Production and Organizations > D24 - Production; Cost; Capital and Total Factor Productivity; Capacity
O - Economic Development, Technological Change, and Growth > O3 - Technological Change; Research and Development > O30 - General
O - Economic Development, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity > O41 - One, Two, and Multisector Growth Models
||Departments > Economics
Research centres and groups > Centre for Economic Performance (CEP)
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