TY  - JOUR
AU  - Lichtenberg,Frank R.
AU  - Siegel,Donald
TI  - The Impact of R&D Investment On Productivity - New Evidence Using Linked R&D-LRD Data
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 2901
PY  - 1991
Y2  - October 1991
UR  - http://www.nber.org/papers/w2901
L1  - http://www.nber.org/papers/w2901.pdf
N1  - Author contact info:
Frank R. Lichtenberg
Columbia University
504 Uris Hall
3022 Broadway
New York, NY  10027
Tel: 212/854-4408
Fax: (212) 854-9895
E-Mail: frl1@columbia.edu

Donald Siegel
Department of Economics
Rensselaer Polytechnic Institute
3502 Russell Sage Laboratory
Troy, NY  12180
E-Mail: sieged@rpi.edu
AB  - This paper uses confidential Census longitudinal microdata to examine the association between R&D and productivity for the period 1972.1985. These data allow for significant improvements in measurement and model specification, yielding more precise estimates of the returns to R&D. Our results confirm the findings of existing studies: 1) positive returns to R&D investment 2) higher returns to company-financed research 3) a productivity "premium" on basic research These results are robust to our attempts to adjust for "influential" outliers. Also, it appears that the return to company-financed R&D (but not total R&D) is an increasing function of firm size.
ER  -