Dit rapport is gratis te downloaden op https://doi.org/10.18174/528928 of op www.wur.eu/economic-research (onder Wageningen Economic Research publicaties).
Dit rapport is gratis te downloaden op https://doi.org/10.18174/572860 of op www.wur.nl/economic-research (onder Wageningen Economic Research publicaties).
The aim of the paper is to quantify endogenous factor-augmenting technical change driven by R&D investments in a panel of 11 OECD countries over 198711 OECD countries over -2007. This paper contributes to the scant empirical evidence on the speed, sources and direction of technical change for various sectors and production factors. Assuming costminimization behavior, a CES framework is used to derive a system of equations that is estimated by a GMM system estimator. The estimated factor-augmenting technology parameters show that in most sectors, technical change was labor-augmenting and laborsaving. Statistically significant effects of manufacturing and services R&D were found on factor-augmenting technical change (with the highest R&D elasticities found in the high-tech manufacturing and transport, storage and communication sectors). Whereas 'in-house' R&D stimulates total factor productivity, R&D spilled over to other sectors has a capital-augmenting effect accompanied by a higher use of labor. The results of this study provide a starting point for incorporating endogenous factor-augmenting technical change in impact assessment models aimed at broad policy analysis including economic growth, food security or climate change.
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