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- Title
WHAT DETERMINES INDUSTRIAL R&D EXPENDITURE IN THE UK?
- Authors
BECKER, BETTINA; PAIN, NIGEL
- Abstract
In this paper we identify some of the factors behind the comparatively poor R&D performance of the UK in the 1990s, when R&D intensity in the business sector declined consistently. We estimate an econometric model of R&D using a panel of UK manufacturing industries. Our results highlight the importance of industry characteristics such as sales and profitability, product market competition, macroeconomic factors such as interest and exchange rates, and the composition of R&D expenditure and funding. A rise in the share of government-funded R&D or the share of foreign R&D is found to have a positive impact on aggregate R&D expenditure.
- Subjects
UNITED Kingdom; BUSINESS forecasting; BUSINESS enterprises; ECONOMETRIC models; FINANCIAL performance; INDUSTRIAL concentration; PUBLIC spending; FOREIGN exchange rates; MACROECONOMICS
- Publication
Manchester School (1463-6786), 2008, Vol 76, Issue 1, p66
- ISSN
1463-6786
- Publication type
Article
- DOI
10.1111/j.1467-9957.2007.01050.x