Template-type: ReDIF-Paper 1.0
Author-Name: Hall, Bronwyn H.
Author-Email: bhall@merit.unu.edu
Author-Workplace-Name: University of California at Berkeley, UNU-MERIT,
	 and Maastricht University
Author-Name: Mairesse, Jacques
Author-Email: mairesse@merit.unu.edu
Author-Workplace-Name: UNU-MERIT, Maastricht University, and CREST
Author-Name: Mohnen, Pierre
Author-Email: p.mohnen@maastrichtuniversity.nl
Author-Workplace-Name: UNU-MERIT, Maastricht University, and CIRANO
Title: Measuring the Returns to R&D
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.
Classification-JEL: O30, O47, C23, C81, D24
Keywords: returns to R&D, innovation, social returns, spillovers
Series: UNU-MERIT Working Papers
Creation-Date: 2010
Number: 006
File-URL: http://www.merit.unu.edu/publications/wppdf/2010/wp2010-006.pdf
File-Format: application/pdf
File-Size: 275 Kb
Handle: RePEc:unm:unumer:2010006