HETEROGENEITY OF RETURNS TO BUSINESS R&D: WHAT DOES MAKE A DIFFERENCE?
HETEROGENEITY OF RETURNS TO BUSINESS R&D: WHAT DOES MAKE A DIFFERENCE?
Autor: |
Petr Pleticha |
Ostatní autoři: |
|
Typ: |
IES Working Papers |
Rok: |
2019 |
Číslo: |
32 |
ISSN / ISBN: |
|
Publikováno v: |
IES Working Papers 32/2019 |
Místo vydání: |
Prague |
Klíčová slova: |
R&D returns, spillovers, Czechia |
JEL kódy: |
O32, O33, O47, L14 |
Citace: |
Pleticha P. (2019): "Heterogeneity of Returns to Business R&D: What Does Make a Difference?" IES Working Papers 32/2019. IES FSV. Charles University |
Abstrakt: |
Business R&D spending has been showed to exert a positive direct as well as indirect, spillover effects on value added. Nevertheless, heterogeneity of the returns to R&D has been seldom examined. Using detailed sectoral data from Czechia over the period 1995-2015, this study finds that privately funded business R&D has both direct and spillover effects, but that the publicly funded part of business R&D only leads to spillovers. The results further suggest that both upstream and downstream spillovers matter, regardless of the source of funding, and that the R&D returns were heavily affected by the economic crisis. Lastly, private R&D offers significant returns only after reaching a critical mass, while the effects of public R&D spending do not profess such non-linearity. The heterogeneity of returns to business R&D needs to be reflected in the design of innovation policy. |
Ke stažení: |
wp_2019_32_pleticha.pdf |