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• W3125320491 abstract "According to the estimates in this paper, R&D is a significant contributor to economic growth. Over the forty-year period studied, 1961-2000, returns to R&D capital accounted for 10 percent of growth in real GDP. Treating R&D as an investment raises the national savings rate by two percentage points from 19 to 21 percent. This paper is a preliminary and exploratory examination of the role of R&D in the U.S. economy. It extends the National Income and Product Accounts (NIPA) framework by treating R&D as an investment and imputing a net return to general government capital. Capitalizing R&D investment has a small positive effect on the rate of growth of GDP. There is a significant effect on the distribution of consumption and investment on the product-side and the distribution of property-type income and labor income on the income-side. Most importantly, the partial R&D satellite account developed in this paper increases our understanding of the sources of economic growth." @default.
• W3125320491 created "2021-02-01" @default.
• W3125320491 creator A5013050171 @default.
• W3125320491 creator A5066187953 @default.
• W3125320491 date "2002-04-01" @default.
• W3125320491 modified "2023-09-27" @default.
• W3125320491 title "R&D in the National Income and Product Accounts: A First Look at its Effect on GDP" @default.
• W3125320491 hasPublicationYear "2002" @default.
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