R&D, innovation, and technological progress: a test of the Schumpeterian framework without scale effects | Zendy

Zachariadis Marios | Zendy

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R&D, innovation, and technological progress: a test of the Schumpeterian framework without scale effects

Author(s) -

Zachariadis Marios

Publication year - 2003

Publication title -

canadian journal of economics/revue canadienne d'économique

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.773

H-Index - 69

eISSN - 1540-5982

pISSN - 0008-4085

DOI - 10.1111/1540-5982.t01-2-00003

Subject(s) - economics , scale effects , technological change , scale (ratio) , endogenous growth theory , null hypothesis , returns to scale , neoclassical economics , econometrics , microeconomics , macroeconomics , human capital , physics , production (economics) , market economy , quantum mechanics

. I use U.S. manufacturing industry data to estimate a system of three equations implied by a model of R&D‐induced growth in steady state. These equations relate R&D intensity to patenting, patenting to technological progress, and technological progress to economic growth. In each case, I find evidence of positive impact. Thus, I reject the null hypothesis that growth is not induced by R&D in favour of the Schumpeterian endogenous growth framework without scale effects. I also find strong support for technological spillovers from aggregate research intensity to industry‐level innovation success. JEL Classification: O40, O30

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