The contribution of research and innovation to productivity

This paper examines the impact of investment in research and innovation on Australian market sector productivity. While previous studies have largely focused on a narrow class of private sector intangible assets as a source of productivity gains, this paper shows that there is a broad range of other...

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Bibliographic Details
Published inJournal of productivity analysis Vol. 47; no. 3; pp. 291 - 308
Main Authors Elnasri, Amani, Fox, Kevin J.
Format Journal Article
LanguageEnglish
Published New York Springer Science + Business Media 01.06.2017
Springer US
Springer Nature B.V
Subjects
Accounting/Auditing
Econometrics
Economic models
Economics
Economics and Finance
Funding
Innovations
Microeconomics
Operations Research/Decision Theory
Productivity
R&D
Research & development
Research & development expenditures
Productivity
Innovation
O3
O4
Intangible assets
H4
Public funding
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Summary:This paper examines the impact of investment in research and innovation on Australian market sector productivity. While previous studies have largely focused on a narrow class of private sector intangible assets as a source of productivity gains, this paper shows that there is a broad range of other business sector intangible assets that can significantly affect productivity. Moreover, the paper pays special attention to the role played by public funding for research and innovation. The empirical results suggest that there are significant spillovers to productivity from public sector R&D spending on research agencies and higher education. No evidence is found for productivity spillovers from indirect public funding for the business enterprise sector, civil sector or defence R&D. These findings have implications for government innovation policy as they provide insights into possible productivity gains from government funding reallocations.
ISSN:0895-562X
1573-0441
DOI:10.1007/s11123-017-0503-9