Measuring the social return to R&D
Measuring the social return to R&D
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DOI：
10.1162/003355398555856
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发表时间：
1998-11-01
影响因子：
13.7
通讯作者：
Williams, JC
中科院分区：
文献类型：
--
作者：
Jones, CI;Williams, JC
研究与发展（R&D）是否太多或太少？在本文中，我们弥合了最近的增长文献和经验生产率文献之间的差距。我们在一个增长模型中推导出R&D的社会回报率和经验文献中的系数估计之间的关系，并表明这些估计代表了一个下限。此外，我们的分析框架提供了一个直接的映射从回报率的研究投资不足的程度。保守估计，最佳研发投资至少是实际投资的2至4倍。
Is there too much or too little research and development (R&D)? In this paper we bridge the gap between the recent growth literature and the empirical productivity literature. We derive in a growth model the relationship between the social rate of return to R&D and the coefficient estimates of the empirical literature and show that these estimates represent a lower bound. Furthermore, our analytic framework provides a direct mapping from the rate of return to the degree of underinvestment in research. Conservative estimates suggest that optimal R&D investment is at least two to four times actual investment.