Measuring the Returns to R&D

62 Pages Posted: 10 Mar 2010

See all articles by Bronwyn H. Hall

Bronwyn H. Hall

University of California at Berkeley; National Bureau of Economic Research (NBER); Institute for Fiscal Studies (IFS); Max Planck Institute for Innovation and Competition

Jacques Mairesse

National Institute of Statistics and Economic Studies (INSEE) - Center for Research in Economics and Statistics (CREST); Maastricht University - United Nations and Maastricht Economic Research Institute on Innovation and Technology (UNU-MERIT); National Bureau of Economic Research (NBER)

Pierre Mohnen

Maastricht University - UNU-MERIT

Multiple version iconThere are 2 versions of this paper

Date Written: January 1, 2010

Abstract

We review the econometric literature on measuring the returns to R&D. The theoretical frameworks that have been used are outlined, followed by an extensive discussion of measurement and econometric issues that arise when estimating the models. We then provide a series of tables summarizing the major results that have been obtained and conclude with a presentation of R&D spillover returns measurement. In general, the private returns to R&D are strongly positive and somewhat higher than those for ordinary capital, while the social returns are even higher, although variable and imprecisely measured in many cases.

Keywords: returns to R&D, innovation, social returns, spillovers

JEL Classification: O30, O37, C23, C81, D24

Suggested Citation

Hall, Bronwyn H. and Mairesse, Jacques and Mohnen, Pierre, Measuring the Returns to R&D (January 1, 2010). CIRANO - Scientific Publications 2010s-02, Available at SSRN: https://ssrn.com/abstract=1566948 or http://dx.doi.org/10.2139/ssrn.1566948

Bronwyn H. Hall

University of California at Berkeley ( email )

549 Evans Hall #3880
Berkeley, CA 94720-3880
United States

HOME PAGE: http://emlab.berkeley.edu/users/bhhall/index.html

National Bureau of Economic Research (NBER)

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Institute for Fiscal Studies (IFS)

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Max Planck Institute for Innovation and Competition

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Germany

Jacques Mairesse

National Institute of Statistics and Economic Studies (INSEE) - Center for Research in Economics and Statistics (CREST) ( email )

15 Boulevard Gabriel Peri
Malakoff Cedex, 1 92245
France

Maastricht University - United Nations and Maastricht Economic Research Institute on Innovation and Technology (UNU-MERIT)

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Netherlands

National Bureau of Economic Research (NBER)

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Pierre Mohnen (Contact Author)

Maastricht University - UNU-MERIT ( email )

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