Title: Internal and external R&D: Complements or substitutes? Evidence from a dynamic panel data model
Authors: Lokshin, Boris ×
Belderbos, Rene
Carree, Martin #
Issue Date: 2008
Publisher: Basil Blackwell
Series Title: Oxford bulletin of economics and statistics vol:70 issue:3 pages:399-413
Article number: HiStat Working Paper 163
Abstract: We examine the impact of internal and external R&D on labour productivity in a 6-year panel of Dutch manufacturing firms. We apply a dynamic panel data model that allows for decreasing or increasing returns to scale in internal and external R&D and for economies of scope.We find complementarity between internal and external R&D, with a positive impact of external R&D only evident in case of sufficient internal R&D. These findings confirm the role of internal R&D in enhancing absorptive capacity. The scope economies are accompanied by decreasing returns to scale at high levels of internal and external R&D. The analysis indicates that productivity grows by increasing the share of external R&D in total R&D.
ISSN: 0305-9049
Publication status: published
KU Leuven publication type: IT
Appears in Collections:Department of Managerial Economics, Strategy and Innovation (MSI), Leuven
× corresponding author
# (joint) last author

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