Effects of Public and Private R&D on Private-Sector Performance in the United States  

Oleh:

Archibald, Robert B. ; Pereira, Alfredo M.

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: Public Finance Review vol. 31 no. 4 (Jul. 2003), page 429-451.
Topik: Private R&D; public R&D; economic performance
Fulltext: 429PFR314.pdf (114.82KB)

Isi artikel

This study analyzes the effects of public and private research and development (R&D) on private-sector output, employment, and investment using a multivariate time-series approach. This approach follows the conceptual argument that dynamic feedbacks are essential to understanding the relationship between public-funded R&D and privatesector performance.With this approach, the authors are able to measure the total effects of public and private R&D on private output. The results suggest that in the long term, public R&D does not affect employment but crowds in private investment, whereas privateR& Dis a substitute for both. As a consequence, the long-term effects of publicR&D on output are positive and substantial, whereas the effects of private R&D are at best marginally positive.As a corollary, the authors argue that publicR&Dshould be brought into the limelight as a leading candidate for explaining the growth slowdown in the past decades.

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