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Growth and Productivity in East Asia$
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Takatoshi Ito and Andrew K. Rose

Print publication date: 2004

Print ISBN-13: 9780226386805

Published to Chicago Scholarship Online: February 2013

DOI: 10.7208/chicago/9780226387079.001.0001

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Productivity Growth and R&D Expenditure in Taiwan's Manufacturing Firms

Productivity Growth and R&D Expenditure in Taiwan's Manufacturing Firms

Chapter:
(p.277) 8 Productivity Growth and R&D Expenditure in Taiwan's Manufacturing Firms
Source:
Growth and Productivity in East Asia
Author(s):

Jiann-Chyuan Wang

Kuen-Hung Tsai

Publisher:
University of Chicago Press
DOI:10.7208/chicago/9780226387079.003.0009

Ever since the 1960s, research and development (R&D) investment has been regarded as an important factor in the improvement of productivity levels. Numerous studies have attempted to estimate the marginal product of R&D capital or the rates of return on R&D investment, but they have continually failed to produce consistent results, with some even failing to determine the contribution of R&D to productivity growth. This chapter investigates productivity growth and R&D expenditure in Taiwan's manufacturing sector, focusing on the relationship between output (value added), employment, physical capital, and R&D capital using panel data for a sample of 136 firms over the period 1994–2000. It assesses the degree to which R&D influences productivity, examines the rates of return on R&D investment within manufacturing firms, and analyzes the differences in productivity growth and the rates of return on R&D investment between industries. Finally, the chapter tests the Schumpeterian hypothesis stating that the returns on R&D are an increasing function of firm size.

Keywords:   research and development, Taiwan, productivity growth, output, employment, physical capital, Schumpeterian hypothesis, rates of return, manufacturing firms, R&D expenditure

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