Please use this identifier to cite or link to this item:
http://dspace.mediu.edu.my:8181/xmlui/handle/10419/18284| Title: | A Schumpeter-inspired approach to the construction of R&D capital stocks |
| Keywords: | C82 O31 D62 ddc:330 R&D capital stocks knowledge spillovers creative destruction Forschung Gesamtwirtschaftliches Anlagevermögen Spillover-Effekt Schumpeterismus Schätztheorie Theorie |
| Issue Date: | 16-Oct-2013 |
| Publisher: | Deutsches Institut für Wirtschaftsforschung (DIW) Berlin |
| Description: | A new method for constructing R&D capital stocks is proposed. Following Schumpeter, the development of R&D capital stocks is modelled as a process of creative destruction. Newly generated knowledge is assumed not only to add to the existing R&D capital stocks but also, by displacing old knowledge, to destroy part of that capital. This is in stark contrast to the perpetual inventory method, which postulates a constant rate of depreciation. We compare both methods by estimating the impact of R&D and spillovers on output in OECD countries, and find that the new approach leads to more sensible and robust results. |
| URI: | http://koha.mediu.edu.my:8181/xmlui/handle/10419/18284 |
| Other Identifiers: | http://hdl.handle.net/10419/18284 ppn:361419872 |
| Appears in Collections: | EconStor |
Files in This Item:
There are no files associated with this item.
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.