R&amp;D policy, productivity growth and distance to frontier

Minniti, Antonio; Venturini, Francesco

doi:10.1016/j.econlet.2017.04.005

Cited by 16 publications

(7 citation statements)

References 6 publications

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“…Ugur et al (2016) by using 1253 estimates from 65 primary studies and hierarchical metaregression models report that the median elasticity of R&D capital ranges from 0.03 to 0.25 and from 0.01 to 0.31 at the firm and industry level, respectively. Minniti and Venturini (2017) investigated the effect of R&D on productivity for 20 manufacturing industries in the United States over the 1975-2000 period. Their empirical results indicate that in the long-run R&D fosters the rate of productivity growth and the elasticity ranged from 1.18% to 1.46%, under the different model specifications.…”

Section: Literature Reviewmentioning

confidence: 99%

R&D contribution in TFP growth of Greek industry: A limited information likelihood approach

Mamatzakis

Pegkas

Staikouras

et al. 2023

Bulletin of Econ Res

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We provide a novel panel model to decompose total factor productivity (TFP) growth in the Greek industry at the firm level while we tackle the contribution of R&D. We, therefore, opt for parametric methodology that provides statistical inference and would validate the results. Our modeling departs from prior strong assumptions such as error terms across firms being independent. In fact, we provide a novel limited information maximum likelihood (LIML) estimation method that adequately deals with the issue of endogeneity and model misspecification. We demonstrate that our model detects variability in terms of TFP growth components across industries and firms. Our results show that R&D would enhance TFP of Greek firms, albeit the crisis has had a detrimental impact. Financial ratios such as liquidity and solvency ratios also affect TFP as we demonstrate that both would enhance TFP. The solvency ratio is important as it provides an estimate of whether the firm can cope with debt. We also note variability across small versus medium and large firms and report that small firms are more productive and spend more of their revenues on R&D. In terms of policy, our evidence warrants higher R&D spending to enhance TFP growth, though R&D funding is a concern.

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Section: Literature Reviewmentioning

confidence: 99%

R&D contribution in TFP growth of Greek industry: A limited information likelihood approach

Mamatzakis

Pegkas

Staikouras

et al. 2023

Bulletin of Econ Res

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“…Some of these studies emphasized the need to invest in technical and scientific knowledge. It has been proven from extent literature that economies that experience sustainable and upward growth usually are the ones that invest maximally in technical and scientific knowledge and human capital development (Marz et al, 2006;Harshberg et al, 2007;Tappeiner et al, 2008;Oluwaseyi, 2012;Miguelez & Moreno, 2015;Pelinescu, 2015;Kim and Lee, 2015;Kong et al, 2017;Minniti & Venturini, 2017). It is also evident that investing in the expansion of physical capital capacity is not a guarantee for sustainable longterm growth.…”

Section: Review Of Literaturementioning

confidence: 99%

Exploring Growth Inducing Knowledge in Africa: A System GMM Approach

Ogundipe

Oluwatobi

Ogundipe

et al. 2021

Cogent Arts & Humanities

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The paradigm shift orchestrated by evolving New Growth Theory has "endogenized" technical change with its production embedded in the positive neoclassical belvedere. Knowledge no longer assumed as naturally endowed but demands a conscious organization and production by rationally optimizing the behavior of economic agents. The divergence in knowledge in Africa supports the assumption that confirmed the tacit nature of technological knowledge. This suggests that knowledge requires to build competitive economy is inarticulate and may not be easily transmitted at zero marginal cost. To this end, technological knowledge possesses the feature of an ordinary private good and can only be transmitted at a cost via imitation and apprenticeship. This study assesses the role of the knowledge types-basically codified (scientific knowledge) and tacit (technological and entrepreneurial knowledge) on the growth process in Africa for the period 1990-2017. The data used for the empirical investigation were obtained from the World Bank 2018 World Development Indicators and World Governance Indicators. The study adopted the System Generalized Method of Moments in performing empirical investigation. In addition, statistics from World Economic Forum's Global Competitive Index and World Bank's Human Capital Index were analyzed. The study found evidence supporting a strong link between technological knowledge (and entrepreneurial) and economic growth while the responsiveness of growth to scientific knowledge infinitesimally approaches zero. The paper recommends a framework that builds competitive knowledge capable of addressing developmental

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“…First, it is necessary to examine the case of the duopoly market with corporate social responsibility (see, e.g., Fanti & Buccella, 2018). Second, we should develop a growth model with merger policy and product R&D to investigate the long‐run effects because Minniti and Venturini (2017) empirically show that R&D policy has long‐run growth effects.…”

Section: Policy Implications and Concluding Remarksmentioning

confidence: 99%

Quality‐improving R&D and merger policy in a differentiated duopoly: Cournot and Bertrand equilibria

Takashima

Ouchida

2020

Manage Decis Econ

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We combine a model of product research and development (R&D) and technological spillover with the concept of technological distance and examine horizontal mergers in a duopolistic market with R&D. The results are fourfold. First, a merger can better encourage R&D investment than the competition case. Second, with a small degree of product differentiation (PD), the merger criterion under the Cournot duopoly is stricter than that of the Bertrand case. By contrast, with a moderate or large degree of PD, the opposite is true. Third, with a small technological distance, a merger should be allowable. Finally, with a small degree of PD and moderate technological distance, a merger should be allowable.

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R&D policy, productivity growth and distance to frontier

Cited by 16 publications

References 6 publications

R&D contribution in TFP growth of Greek industry: A limited information likelihood approach

R&D contribution in TFP growth of Greek industry: A limited information likelihood approach

Exploring Growth Inducing Knowledge in Africa: A System GMM Approach

Quality‐improving R&D and merger policy in a differentiated duopoly: Cournot and Bertrand equilibria

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