The Impact of R&D Investment on Productivity - New Evidence Using Linked R&D-Lrd Data

46 Pages Posted: 16 Jul 2004 Last revised: 21 Apr 2005

See all articles by Frank R. Lichtenberg

Frank R. Lichtenberg

Columbia Business School - Finance and Economics; National Bureau of Economic Research (NBER); CESifo (Center for Economic Studies and Ifo Institute for Economic Research)

Donald S. Siegel

Arizona State University

Date Written: March 1989

Abstract

This paper uses confidential Census longitudinal microdata to examine the association between R&D and productivity for the period 1972.1985. These data allow for significant improvements in measurement and model specification, yielding more precise estimates of the returns to R&D. Our results confirm the findings of existing studies: 1) positive returns to R&D investment 2) higher returns to company-financed research 3) a productivity "premium" on basic research These results are robust to our attempts to adjust for "influential" outliers. Also, it appears that the return to company-financed R&D (but not total R&D) is an increasing function of firm size.

Suggested Citation

Lichtenberg, Frank R. and Siegel, Donald S., The Impact of R&D Investment on Productivity - New Evidence Using Linked R&D-Lrd Data (March 1989). NBER Working Paper No. w2901, Available at SSRN: https://ssrn.com/abstract=227209

Frank R. Lichtenberg (Contact Author)

Columbia Business School - Finance and Economics ( email )

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National Bureau of Economic Research (NBER)

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CESifo (Center for Economic Studies and Ifo Institute for Economic Research)

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Donald S. Siegel

Arizona State University ( email )

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United States
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