@techreport{NBERw15622,
 title = "Measuring the Returns to R&D",
 author = "Bronwyn H. Hall and Jacques Mairesse and Pierre Mohnen",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "15622",
 year = "2009",
 month = "December",
 URL = "http://www.nber.org/papers/w15622",
 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.},
}