Managerial Capital and Business R&D as Enablers of Productivity Convergence:
This paper explores the role of managerial capital and business research and development (R&D) in fostering multifactor productivity (MFP) convergence in a panel of 42 countries. The OECD long-term growth model is augmented to show that, in addition to trade openness, an economy's speed of...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
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Paris
OECD Publishing
2014
|
| Schriftenreihe: | OECD Economics Department Working Papers
no.1137 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | This paper explores the role of managerial capital and business research and development (R&D) in fostering multifactor productivity (MFP) convergence in a panel of 42 countries. The OECD long-term growth model is augmented to show that, in addition to trade openness, an economy's speed of convergence to its long-run steady state level of MFP is an increasing function of the quality of its managerial capital and the size of its domestic R&D sector. The economic importance of these two enabling factors are examined in the context of a scenario, whereby MFP growth at the technological frontier is ½ percentage point higher (than in the baseline projection) per annum until 2060. This exercise shows that some countries benefit significantly more from higher frontier growth than could be expected based on their trade openness alone. In turn, evidence on the policy determinants of managerial capital and business R&D is reviewed, which highlights the importance of structural reforms and carefully-designed innovation policies. |
| Beschreibung: | 1 Online-Ressource (30 p.) 21 x 29.7cm. |
| DOI: | 10.1787/5jxx3d441knr-en |
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| spelling | Andrews, Dan VerfasserIn aut Managerial Capital and Business R&D as Enablers of Productivity Convergence Dan, Andrews and Ben, Westmore = Capital managérial et R-D des entreprises, moteurs de la convergence de la productivité / Dan, Andrews et Ben, Westmore Capital managérial et R-D des entreprises, moteurs de la convergence de la productivité Paris OECD Publishing 2014 1 Online-Ressource (30 p.) 21 x 29.7cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.1137 This paper explores the role of managerial capital and business research and development (R&D) in fostering multifactor productivity (MFP) convergence in a panel of 42 countries. The OECD long-term growth model is augmented to show that, in addition to trade openness, an economy's speed of convergence to its long-run steady state level of MFP is an increasing function of the quality of its managerial capital and the size of its domestic R&D sector. The economic importance of these two enabling factors are examined in the context of a scenario, whereby MFP growth at the technological frontier is ½ percentage point higher (than in the baseline projection) per annum until 2060. This exercise shows that some countries benefit significantly more from higher frontier growth than could be expected based on their trade openness alone. In turn, evidence on the policy determinants of managerial capital and business R&D is reviewed, which highlights the importance of structural reforms and carefully-designed innovation policies. Economics Industry and Services Westmore, Ben MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/5jxx3d441knr-en Volltext |
| spellingShingle | Andrews, Dan Managerial Capital and Business R&D as Enablers of Productivity Convergence Economics Industry and Services |
| title | Managerial Capital and Business R&D as Enablers of Productivity Convergence |
| title_alt | Capital managérial et R-D des entreprises, moteurs de la convergence de la productivité |
| title_auth | Managerial Capital and Business R&D as Enablers of Productivity Convergence |
| title_exact_search | Managerial Capital and Business R&D as Enablers of Productivity Convergence |
| title_full | Managerial Capital and Business R&D as Enablers of Productivity Convergence Dan, Andrews and Ben, Westmore = Capital managérial et R-D des entreprises, moteurs de la convergence de la productivité / Dan, Andrews et Ben, Westmore |
| title_fullStr | Managerial Capital and Business R&D as Enablers of Productivity Convergence Dan, Andrews and Ben, Westmore = Capital managérial et R-D des entreprises, moteurs de la convergence de la productivité / Dan, Andrews et Ben, Westmore |
| title_full_unstemmed | Managerial Capital and Business R&D as Enablers of Productivity Convergence Dan, Andrews and Ben, Westmore = Capital managérial et R-D des entreprises, moteurs de la convergence de la productivité / Dan, Andrews et Ben, Westmore |
| title_short | Managerial Capital and Business R&D as Enablers of Productivity Convergence |
| title_sort | managerial capital and business r d as enablers of productivity convergence |
| topic | Economics Industry and Services |
| topic_facet | Economics Industry and Services |
| url | https://doi.org/10.1787/5jxx3d441knr-en |
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