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The literature on the effects of research and development


Beck, Mathias; Kaiser, Ulrich; Junge, Martin (2017). The literature on the effects of research and development. In: Composing the Innovation Symphony, Wirtschaftskammer Österreich, Vienna, Austria, 18 June 2017 - 21 June 2017.

Abstract

The economic return to public and private R&D is of enormous interest to academics and policy makers. First, private returns to R&D appear to be large and larger than the returns to alternative investments. Second, private R&D and R&D subsidies are positively correlated and there is no evidence for crowding out effects. Third, R&D cooperation increases private R&D. Fourth, there appear to exist complementarities between alternative sources of funding. Fifth, the mobility of R&D workers, particularly of university scientists is positively related to an increase in innovation. Sixth, there are many university spinoffs but these are no more successful than non-university spinoffs. Seventh, scientists with a migration background outperform domestic ones. Eights, universities constitute important collaboration partners. Ninth, clusters enhance collaboration, patents and productivity. A problem for economic policy is that little is known about the optimal design of policy measures since most studies analyze a single policy measure only.

Abstract

The economic return to public and private R&D is of enormous interest to academics and policy makers. First, private returns to R&D appear to be large and larger than the returns to alternative investments. Second, private R&D and R&D subsidies are positively correlated and there is no evidence for crowding out effects. Third, R&D cooperation increases private R&D. Fourth, there appear to exist complementarities between alternative sources of funding. Fifth, the mobility of R&D workers, particularly of university scientists is positively related to an increase in innovation. Sixth, there are many university spinoffs but these are no more successful than non-university spinoffs. Seventh, scientists with a migration background outperform domestic ones. Eights, universities constitute important collaboration partners. Ninth, clusters enhance collaboration, patents and productivity. A problem for economic policy is that little is known about the optimal design of policy measures since most studies analyze a single policy measure only.

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Additional indexing

Item Type:Conference or Workshop Item (Paper), refereed, original work
Communities & Collections:03 Faculty of Economics > Department of Business Administration
Dewey Decimal Classification:330 Economics
Language:English
Event End Date:21 June 2017
Deposited On:10 Jul 2017 12:45
Last Modified:10 Jul 2017 12:45
Publisher:ISPIM
Series Name:ISPIM Innovation Conference
Number:XXVIII
ISBN:978-952-335-020-5
Related URLs:http://www.ispim-innovation-conference.com/submissions
Other Identification Number:merlin-id:14964

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