Abstract for:

Mapping the Two Faces of R&D: Productivity Growth in a Panel of OECD Industries

Rachel  Griffith,  Stephen  Redding,  John  Van Reenen,  May 2000
Paper No' CEPDP0458: | Full paper

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Keywords: R and D; human capital; total factor productivity; convergence

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Is hard copy/paper copy available? YES - Paper Copy Still In Print.

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This Paper is published under the following series: CEP Discussion Papers

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Abstract:

Many writers have claimed that R&D has two ''faces''. In addition to the conventional role of stimulating innovation, R&D enhances technology transfer by improving the ability of firms to learn about advances in the leading edge (''absorptive capacity''). In this paper we document that there has been convergence of TFP within a panel of industries across thirteen OECD countries since 1970. Furthermore, we find evidence that both R&D and human capital appear statistically and economically important in this catch up process as well as stimulating innovation directly. Trade, by contrast, plays a more modest role in productivity growth.