Measuring the Returns to R&D

61 Pages Posted: 4 Jan 2010 Last revised: 10 Mar 2023

See all articles by Bronwyn H. Hall

Bronwyn H. Hall

University of California at Berkeley; National Bureau of Economic Research (NBER); Institute for Fiscal Studies (IFS); Max Planck Institute for Innovation and Competition

Jacques Mairesse

National Institute of Statistics and Economic Studies (INSEE) - Center for Research in Economics and Statistics (CREST); Maastricht University - United Nations and Maastricht Economic Research Institute on Innovation and Technology (UNU-MERIT); National Bureau of Economic Research (NBER)

Pierre Mohnen

Maastricht University - UNU-MERIT

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Date Written: December 2009

Abstract

We review the econometric literature on measuring the returns to R&D. The theoretical frameworks that have been used are outlined, followed by an extensive discussion of measurement and econometric issues that arise when estimating the models. We then provide a series of tables summarizing the major results that have been obtained and conclude with a presentation of R&D spillover returns measurement. In general, the private returns to R&D are strongly positive and somewhat higher than those for ordinary capital, while the social returns are even higher, although variable and imprecisely measured in many cases.

Suggested Citation

Hall, Bronwyn H. and Mairesse, Jacques and Mohnen, Pierre, Measuring the Returns to R&D (December 2009). NBER Working Paper No. w15622, Available at SSRN: https://ssrn.com/abstract=1530078

Bronwyn H. Hall (Contact Author)

University of California at Berkeley ( email )

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National Bureau of Economic Research (NBER)

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Jacques Mairesse

National Institute of Statistics and Economic Studies (INSEE) - Center for Research in Economics and Statistics (CREST) ( email )

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France

Maastricht University - United Nations and Maastricht Economic Research Institute on Innovation and Technology (UNU-MERIT)

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Netherlands

National Bureau of Economic Research (NBER)

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Pierre Mohnen

Maastricht University - UNU-MERIT ( email )

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