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- W2895920807 abstract "Using data on the US and EU top R&D spenders from 2004 until 2012, this paper investigates the sources of the US/EU productivity gap. We find robust evidence that US firms have a higher capacity to translate R&D into productivity gains (especially in the high-tech industries), and this contributes to explaining the higher productivity of US firms. Conversely, EU firms are more likely to achieve productivity gains through capital-embodied technological change at least in medium and low-tech sectors. Our results also show that the US/EU productivity gap has worsened during the crisis period, as the EU companies have been more affected by the economic crisis in their capacity to translate R&D investments into productivity. Based on these findings, we make a case for a learning-based and selective R&D funding, which - instead of purely aiming at stimulating higher R&D expenditures - works on improving the firms' capabilities to transform R&D into productivity gains." @default.
- W2895920807 created "2018-10-26" @default.
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- W2895920807 date "2016-05-09" @default.
- W2895920807 modified "2023-09-27" @default.
- W2895920807 title "R&D and Productivity in the US and the EU: Sectoral Specificities and Differences in the Crisis" @default.
- W2895920807 hasPublicationYear "2016" @default.
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