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Has New Zealand benefited from its investments in research & development?

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Abstract:

We use panel data for nine industries to evaluate research and development (R&D) investments in New Zealand over the past forty years. We estimate the impact of R&D stocks in a particular industry on output per person in that industry and on output per person in the rest of the economy. We examine both public and private R&D investments. Privately provided R&D has a statistically significant positive impact on own-industry output per person, suggesting it increases productivity. However, publicly provided R&D has no impact on own-industry output per person. There is also evidence that private R&D in certain industries positively affects output per person in the rest of the economy, i.e. it generates positive spillovers. There is no evidence of positive spillovers from publicly provided R&D.

Document Type: Research Article

DOI: http://dx.doi.org/10.1080/00036840600707308

Affiliations: Department of Labour, Wellington, New Zealand

Publication date: October 1, 2007

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