Productivity growth, environmental regulations and the composition of R&D.
- UNCG Author/Contributor (non-UNCG co-authors, if there are any, appear on document)
- Albert N. Link, Professor (Creator)
- Institution
- The University of North Carolina at Greensboro (UNCG )
- Web Site: http://library.uncg.edu/
Abstract: The average annual rate of productivity growth in the United States has fallen since the
mid-1960s. One factor often cited for this trend is the slowdown in the level of R&D
spending. In considering this factor, many researchers have examined the correlation
between productivity growth and R&D spending and found that it was positive through
the 1960s but near zero in the 1970s. This latter result has raised the question as to
whether the productivity of R&D has collapsed. Evidence is presented in this article that
the collapse of R&D in empirical productivity equations is conceptually misleading because
a significant portion of R&D was directed in the 1970s toward compliance with environmental
regulations. These expenditures appear to be negatively related to measured productivity
growth.
Productivity growth, environmental regulations and the composition of R&D.
PDF (Portable Document Format)
554 KB
Created on 7/5/2013
Views: 2181
Additional Information
- Publication
- Language: English
- Date: 1982
- Keywords
- productivity growth, research and development, R&D spending, R&D investment, product research, research expenditure