The contribution of public and private R&D to UK productivity growth

The contribution of public and private R&D to UK productivity growth
Document type
Discussion paper
Author(s)
Goodridge, Peter; Haskel, Jonathan; Hughes, Alan
Publisher
Imperial College Business School
Date of publication
1 March 2015
Series
Discussion Paper 2015/03
Subject(s)
Trends: economic, social and technology trends affecting business
Collection
Business and management
Material type
Reports

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The authors estimate the contribution of public and private R&D to UK productivity growth on industry data, 1992-2007.

R&D affects productivity growth via (1) R&D input, valued at competitive factor shares and (2) (Domar-Hulten) weighted industry TFP growth if there are (a) within-industry spillovers (b) between-industry spillovers and (c) spillovers from public-sector R&D to the market sector. Thus effects depend upon factor shares, spillovers and industrial structure. This paper estimates all these effects and performs counter-factual experiments such as e.g. additional government spending on the science budget, increased manufacturing R&D spending and the effects of such changes with a different industrial structure.

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