R&D Price Inflation, Real BERD and Innovation: Pharmaceuticals, OECD 1980-2000

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http://eprints.org/relation/isVersionOf https://vuir.vu.edu.au/id/dark_document/56171 http://eprints.org/relation/isVolatileVersionOf https://vuir.vu.edu.au/id/dark_document/56171 http://eprints.org/relation/issmallThumbnailVersionOf https://vuir.vu.edu.au/id/dark_document/56171 archive 34 disk0/00/00/01/07 2005-10-21 2021-08-27 07:38:38 2008-08-19 18:54:38 monograph show Messinis George 0000-0002-2484-9522 R&D Price Inflation, Real BERD and Innovation: Pharmaceuticals, OECD 1980-2000 pub 320000 FOR_2008_111500 cses price inflation; pharmaceuticals; productivity; pharmaceutical industry; R&D expenditures; drugs; inflation; innovation; patents Research in pharmaceuticals suggests there is a growing imbalance in the spatial distribution of business expenditure in R&D (BERD) and R&D productivity has declined. This evidence derives from data using GDP price deflators to adjust for price inflation but Dougherty et al. (2003) show them to be inappropriate. This paper draws on economic theory and panel estimation techniques to develop Griliches-Jaffe-type R&D price deflators for the pharmaceutical industry in the OECD. The paper also re-examines the hypotheses that Europe is an innovation laggard and that R&D productivity has declined. The evidence shows Europe is not a laggard in real BERD, R&D productivity has improved throughout the OECD except Japan, and the USA has consolidated its leadership in patents and R&D productivity. 2004-05 submitted Victoria University No. 18 56171 2 2385682 dark_document 56171 Messinis George.pdf application/pdf 576c3b019f5e6112a1449002bfeadfc3 MD5 75089 2020-07-21 01:58:54 107 7 7 application/pdf text Submission & Permission Form en staffonly

Messinis George.pdf

other public working_paper Melbourne, Australia 24 Victoria University Centre for Strategic Economic Studies FALSE