Measuring the Returns to R&D
نویسندگان
چکیده
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. JEL: O30, O37, C23, C81, D24
منابع مشابه
Measuring the performance and returns to scale of forest management plans using data envelopment analysis approach (Case study; Iranian Caspian forests)
The aim of this study was to assess the relative efficiency of the Iranian forest management plans using the non-parametric method – Data Envelopment Analysis (DEA) as a well-known and robust technique for measuring the relative efficiency of organizations. The relative efficiency of forest management plans was calculated using the most frequency DEA models such as global technical efficiency (...
متن کاملTwo Methods for Measuring the Environmental Returns to Scale Using Data Envelopment Analysis Approach
Nowadays, the assessment of environmental performance has received considerable attention by environmental strategy advocators and decision makers. In recent years, increased emission of CO2 into the air, water pollution, and global warming are universal problems all over the world. Therefore, development of firms with less CO2 emission is an important issue of attention in every area of produc...
متن کاملDetermining Malmquist Productivity Index in DEA and DEA-R based on Value Efficiency
Malmquist Productivity Index (MPI) is a numeric index that is of great importance in measuring productivity and its changes. In recent years, tools like DEA have been utilized for determining MPI. In the present paper, some models are recommended for calculating MPI when there are just ratio data available. Then, using DEA and DEA-R, some models are proposed under the constant returns to scale ...
متن کاملEstimation of Returns to Scale in the Presence of Undesirable (bad) Outputs in DEA when the Firm is Regulated
The calculation of RTS amounts to measuring a relationship between inputs and outputs in a production structure. There are many methods to measure RTS in the primal space or the dual space. One of the main approaches is using the multiplier on the convexity constraint. But returns to scale measurements in DEA models are affected by the presence of regulatory constraints. These additional constr...
متن کاملMeasuring the Returns to R&D: The Depreciation Problem
Measuring the private returns to R&D requires knowledge of its private depreciation or obsolescence rate, which is inherently variable and responds to competitive pressure. Nevertheless, most of the previous literature has used a constant depreciation rate to construct R&D capital stocks and measure the returns to R&D, a rate usually equal to 15 per cent. In this paper I review the implications...
متن کامل