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Assessment of R&D and its impact on Indian manufacturing industries

Assessment of R&D and its impact on Indian manufacturing industries An important source of productivity growth, technological change and hence increased welfare of a country is Research and Development (R&D). Thus, it is absolutely important to develop a country's R&D sector. However, developing countries have traditionally relied largely on import of technologies from developed countries, rather than domestic R&D for driving their technological change. India too has been no exception. But, like any other developing country, India too needs to make continuous investment either to adopt foreign technology or to develop its own capacities via R&D activities. Presently, India's R&D expenditure is merely 2.1% of total global expenditure. Against this backdrop, the present study computes elasticity of industry-level TPF with respect to R&D content of intermediates, both domestic and foreign, for industries in India. The results show that R&D stocks embodied in intermediates have contributed to productivity growth in these industries. Particularly, noteworthy is this elasticity for low-R&D industries, like, processed food, textile and wearing apparels, motor vehicles etc. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Computational Economics and Econometrics Inderscience Publishers

Assessment of R&D and its impact on Indian manufacturing industries

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Publisher
Inderscience Publishers
Copyright
Copyright © Inderscience Enterprises Ltd
ISSN
1757-1170
eISSN
1757-1189
DOI
10.1504/IJCEE.2018.091042
Publisher site
See Article on Publisher Site

Abstract

An important source of productivity growth, technological change and hence increased welfare of a country is Research and Development (R&D). Thus, it is absolutely important to develop a country's R&D sector. However, developing countries have traditionally relied largely on import of technologies from developed countries, rather than domestic R&D for driving their technological change. India too has been no exception. But, like any other developing country, India too needs to make continuous investment either to adopt foreign technology or to develop its own capacities via R&D activities. Presently, India's R&D expenditure is merely 2.1% of total global expenditure. Against this backdrop, the present study computes elasticity of industry-level TPF with respect to R&D content of intermediates, both domestic and foreign, for industries in India. The results show that R&D stocks embodied in intermediates have contributed to productivity growth in these industries. Particularly, noteworthy is this elasticity for low-R&D industries, like, processed food, textile and wearing apparels, motor vehicles etc.

Journal

International Journal of Computational Economics and Econometrics – Inderscience Publishers

Published: Jan 1, 2018

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