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Note on R&D expenditures and fixed capital formation

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Abstract

In this paper we deal with the fixed capital nature of the means of production and labour employed in research and development which generate scientific and technological knowledge. We argue that these R&D current expenditures typically have the nature of fixed investments. We then present an empirical analysis which shows that expenditures on industrial R&D are more strongly linked to the formation of fixed capital than to the formation of capital in general. Applying this conclusion to the economics of research and innovation would make it possible to analyse investments in the production of scientific and technological knowledge with a higher degree of clarity and precision.

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References

  • De Marchi, M., & Rocchi, M. (2005). Note on gross capital formation and R&D expenditure. International Journal of Technology, Policy and Management, 5(3).

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Acknowledgments

The authors wish to thank Ms Cinzia Spaziani of CERIS-CNR for her invaluable help with the statistical elaborations and an anonymous referee for precious comments. The responsibility for any errors or omissions lies with the authors.

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Authors and Affiliations

  1. Institute of Research on Firms and Growth, National Research Council (CERIS-CNR), Via dei Taurini 19, 00185, Rome, Italy

    Mario De Marchi & Maurizio Rocchi

Authors
  1. Mario De Marchi
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  2. Maurizio Rocchi
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Corresponding author

Correspondence to Mario De Marchi.

Appendix

Appendix

Tables showing the elementary data on which the correlations have been performed.

See Appendix Tables 2, 3, 4.

Table 2 BERD (million national currency—for the euro area, pre-EMU euro or EUR)
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Table 3 Gross capital formation millions of national currency, chained volume estimates, national reference year, quarterly levels, seasonally adjusted—annual
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Table 4 Gross fixed capital formation millions of national currency, chained volume estimates, national reference year, quarterly levels, seasonally adjusted—annual
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De Marchi, M., Rocchi, M. Note on R&D expenditures and fixed capital formation. Scientometrics 85, 489–494 (2010). https://doi.org/10.1007/s11192-010-0225-5

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  • DOI: https://doi.org/10.1007/s11192-010-0225-5

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