Article
Economics
Tracey Broome, Winston Ricardo Moore, Philmore Alleyne
Summary: Despite financial constraints faced by Caribbean firms, the study finds that prior R&D experience and current innovative activities significantly enhance the performance of manufacturing and service firms in terms of productivity and probability of innovation.
Article
Economics
Sigurd Molster Galaasen, Alfonso Irarrazabal
Summary: This paper investigates the determinants of R&D heterogeneity and the economic impact of R&D subsidies. The study finds that a size-dependent subsidy can increase aggregate R&D investment by 11.7%, but may reduce growth and welfare. In contrast, a uniform subsidy stimulates investment, growth, and welfare.
Article
Economics
Dierk Herzer
Summary: Several studies have investigated the long-term effects of public and private R&D on total factor productivity (TFP) with mixed results. This study contributes by estimating the long-term elasticities of TFP with respect to public and private R&D using both R&D capital stocks and the number of researchers in the public and private sectors. The findings suggest a significant positive long-term effect of both public and private R&D on TFP, with public R&D having a greater impact than private R&D.
JOURNAL OF THE KNOWLEDGE ECONOMY
(2022)
Article
Economics
Thomas H. W. Ziesemer
Summary: This paper uses a vector-error-correction model (VECM) to analyze the effects of permanent changes in R&D variables on the US economy, and derives several important findings. First, private and public foreign R&D have a positive impact on labor-augmenting technical change (LATC) and public R&D in the USA, contrary to the traditional result of zero or negative foreign R&D spillovers. Moreover, US private R&D reacts positively to foreign private R&D and negatively to foreign public R&D shocks. Second, changes in US R&D have positive effects on foreign public and private R&D. All the mentioned variables react positively to changes in US private R&D. Third, additional private and public US R&D expenditures have high rates of return and are profitable even in reaction to shocks from foreign R&D. All LATC reactions are transitional, indicating semi-endogenous growth for the USA.
Review
Pharmacology & Pharmacy
Alexander Schuhmacher, Markus Hinder, Alexander von Stegmann und Stein, Dominik Hartl, Oliver Gassmann
Summary: We analyzed the R & D input, output, and outcome of 16 leading research-based pharmaceutical companies over 20 years (2001-2020). Our analysis shows that pharma companies increased their R & D spending at a compound annual growth rate of 6% (2001-2020) to an average R & D expenditure per company of $6.7 billion (2020). The companies in our investigation launched 251 new drugs representing 46% of all CDER-related FDA approvals in the past 20 years. The average R & D efficiency of big pharma was $6.16 billion total R & D expenditures per new drug. Almost half of the leading companies needed to compensate for their negative R & D productivity through mergers and acquisitions.
DRUG DISCOVERY TODAY
(2023)
Review
Pharmacology & Pharmacy
Kathy Fernando, Sandeep Menon, Kathrin Jansen, Prakash Naik, Gianluca Nucci, John Roberts, Shuang Sarah Wu, Mikael Dolsten
Summary: Pfizer has made significant efforts to improve its R&D productivity over the past decade, achieving a leading clinical success rate and maintaining a high level of innovation. These efforts laid a strong foundation for the development of the COVID-19 vaccine and antiviral candidate.
DRUG DISCOVERY TODAY
(2022)
Article
Mathematics
Xionghe Qin
Summary: This study examines the impact of interregional collaboration in China on R&D productivity, finding that while collaboration has improved, there is a mismatch in its spatial distribution. The study further highlights that interregional collaboration contributes to narrowing the gaps in knowledge productivity.
Article
Economics
Michael Donadelli, Patrick Gruening, Marcus Jueppner, Renatas Kizys
Summary: The study shows that global temperature shocks can slow down R&D expenditure growth and impact economic growth; the model indicates that temperature shocks undermine economic growth by reducing R&D expenditure; the government can offset the welfare costs of rising temperatures by providing subsidies to investment or supporting R&D expenditure financially.
Article
Economics
T. von Brasch, A. Cappelen, H. Hungnes, T. Skjerpen
Summary: Various studies have shown significant spillover effects from R&D investments between industries. Utilizing tax credits to lower the user cost of R&D capital can gradually boost aggregate productivity, leading to approximately 1% higher levels of output, real wages, and consumption in the long run.
ECONOMIC MODELLING
(2021)
Article
Management
Bettina Peters, Mark J. Roberts, Van Anh Vuong
Summary: There are differences in the returns to R&D investment between German manufacturing firms selling in international markets and firms selling only in the domestic market. Exporting firms invest more frequently in R&D and these investments have higher economic returns in export market sales. Export market sales significantly contribute to the firm's return on R&D investment, raising future firm value.
Article
Mathematics, Interdisciplinary Applications
Haijing Wang, Junguo Shi, Muhammad Imran, Jiaqi Gao, Yitian Zhang, Rongyu Wang
Summary: This study examines the effects of government innovation subsidies under different combinations of market power and ownership types, and finds that the subsidies have different effects on R&D investment depending on the specific situation.
Article
Environmental Sciences
Shikuan Zhao, Yuequn Cao, Chao Feng, Ke Guo, Jinning Zhang
Summary: This study empirically analyzes the effects and mechanisms of environmentally induced R&D and traditional R&D on green total-factor productivity in China. The results indicate that environmentally induced R&D investment significantly promotes the growth of green total-factor productivity, while traditional R&D investment does not have a significant effect. Environmentally induced R&D promotes the growth of green total-factor productivity through channels such as emission reduction, clean energy consumption, and green technology progress.
SCIENCE OF THE TOTAL ENVIRONMENT
(2022)
Article
Business
Xionghe Qin, Xueli Wang, Mei-Po Kwan
Summary: This paper examines the contrasting effects of local agglomeration in innovation activities and the interregional networks derived from innovation collaboration on R&D productivity. The findings show that interregional networks play an important role in improving research productivity, while local agglomeration is more important in technology transfer research. The results confirm that interregional networks and local agglomeration operate at distinct parts of the R&D process.
TECHNOLOGICAL FORECASTING AND SOCIAL CHANGE
(2023)
Article
Engineering, Industrial
Jin-Uk Choi, Chang-Yang Lee
Summary: This study examines the relationship between basic research and firm R&D productivity, focusing on the conditioning role of firm-level technological diversification. The findings suggest that technological diversification positively conditions the relationship, particularly unrelated technological diversification. This conditioning effect is more pronounced for firms in high-tech or less competitive industries, indicating that a broad technological knowledge base across unrelated fields is helpful for firms to utilize basic research effectively and enhance their R&D productivity.
Article
Economics
Jaana Rahko
Summary: The internationalization of corporate R&D is primarily driven by access to new markets and technological know-how. Empirical literature has shown that international R&D activities can positively impact firm-level productivity, especially when conducted in host countries that have experienced rapid economic growth or possess stronger technological capabilities than the firm's home country.