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R&D in the National Income and Product Accounts

R&D in the National Income and Product Accounts

A First Look at Its Effect on GDP

Chapter:
(p.275) 8 R&D in the National Income and Product Accounts
Source:
Measuring Capital in the New Economy
Author(s):
Barbara M. FraumeniSumiye Okubo
Publisher:
University of Chicago Press
DOI:10.7208/chicago/9780226116174.003.0009

This chapter examines the impact of research and development on gross national product (GDP) and on national income and product accounts (NIPAs). It discusses how an R&D capital stock could be constructed for the U.S. NIPAs and analyzes the relationship between their measures and existing GDP. This chapter expresses hope that this study will spur consideration of how measuring intangible capital may change the existing statistics.

Keywords:   research and development, GDP, NIPAs, U.S, capital stock, intangible capital

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