TY  - JOUR
AU  - Hall,Bronwyn H.
AU  - Mairesse,Jacques
AU  - Mohnen,Pierre
TI  - Measuring the Returns to R&D
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 15622
PY  - 2009
Y2  - December 2009
UR  - http://www.nber.org/papers/w15622
L1  - http://www.nber.org/papers/w15622.pdf
N1  - Author contact info:
Bronwyn H. Hall
Dept. of Economics
549 Evans Hall
UC Berkeley
Berkeley, CA 94720-3880
Tel: 510/642-3878
Fax: 510/548-5561
E-Mail: bhhall@nber.org

Jacques Mairesse
CREST-INSEE
15, Boulevard Gabriel PERI
92245 MALAKOFF CEDEX
FRANCE
Tel: 33-1-41-17-35-50
Fax: 33-1-41-17-76-34
E-Mail: mairesse@ensae.fr

Pierre Mohnen
UNU-MERIT
Maastricht University
P.O. Box 616
6200 MD Maastricht
Netherlands
E-Mail: p.mohnen@maastrichtuniversity.nl
AB  - 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.
ER  -