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Indicators of the impact of R&D on the economy

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Abstract

This paper reviews the literature on the economic effects of R&D and then examines the gaps in our knowledge. While most micro-studies show that R&D raises economic growth, existing knowledge of the mechanisms by which R&D affects productivity and output is sparse, and it is unclear whether the micro-studies can be generalized to the national economy. The paper concludes by examining some possible consequences of the reduced R&D effort by the United States.

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  1. Department of Economics, Harvard University, 02138, Cambridge, MA, (USA)

    R. B. Freeman

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  1. R. B. Freeman
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I have benefitted immensely from discussion with RichardNelson.

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Freeman, R.B. Indicators of the impact of R&D on the economy. Scientometrics 2, 375–385 (1980). https://doi.org/10.1007/BF02095080

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