Article
Modelling the joint impact of R&D and ICT: A frontier analysis approach
Research Policy
(2018)
Abstract
This study explores the channels through which technological investments affect productivity performance of industrialized economies. Using a Stochastic Frontier Model (SFM) we estimate the productivity effects of R&D and ICT for a large sample of OECD industries between 1973 and 2007, identifying four channels of transmission: input accumulation, technological change, technical efficiency and spillovers. Our results show that ICT has been particularly effective in reducing production inefficiency and in generating inter-industry spillovers, while R&D has raised the rate of technical change and favoured knowledge spillovers within sectors. We also quantify the contribution of technological investments to output and total factor productivity growth documenting that R&D and ICT accounted for almost 95% of productivity growth in the OECD area.
Disciplines
Publication Date
2018
Citation Information
Fabio Pieri, Michela Vecchi and Francesco Venturini. "Modelling the joint impact of R&D and ICT: A frontier analysis approach" Research Policy Vol. 47 Iss. 9 (2018) p. 1842 - 1852 Available at: http://works.bepress.com/francesco_venturini/41/