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Accounting for research and productivity growth across industries

Ngai, L. Rachel and Samaniego, Roberto M. (2011) Accounting for research and productivity growth across industries. Review of Economic Dynamics, 14 (3). pp. 475-495. ISSN 1094-2025

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Identification Number: 10.1016/j.red.2009.12.002

Abstract

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.

Item Type: Article
Official URL: http://www.elsevier.com/wps/find/journaldescriptio...
Additional Information: © 2009 Elsevier
Subjects: H Social Sciences > HB Economic Theory
H Social Sciences > HD Industries. Land use. Labor
Sets: Departments > Economics
Research centres and groups > Centre for Economic Performance (CEP)
Date Deposited: 29 Jun 2011 08:56
Last Modified: 04 May 2017 09:34
URI: http://eprints.lse.ac.uk/id/eprint/37127

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