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  • A new method for constructing R&D capital stocks is proposed and tested. Following Schumpeter, the development of R&D capital stocks is modelled as a process of creative destruction. Newly generated knowledge is assumed not only to add to the existing R&D capital stocks but also, by displacing old knowledge, to destroy part of that capital. This is in stark contrast to the perpetual inventory method, which postulates a constant rate of depreciation. We compare both methods by estimating the impact of R&D and spillovers on output of nine industries in twelve OECD countries, and find that the new approach leads to more sensible and robust results. (xsd:string)
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?:dateModified
  • 2006 (xsd:gyear)
?:datePublished
  • 2006 (xsd:gyear)
?:doi
  • 10.1080/00036840500427973 ()
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  • true (xsd:boolean)
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  • en (xsd:string)
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?:issueNumber
  • 2 (xsd:string)
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  • A Schumpeter-inspired Approach to the Construction of R&D Capital Stocks (xsd:string)
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  • Zeitschriftenartikel (xsd:string)
  • journal_article (en)
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  • GESIS-SSOAR (xsd:string)
  • In: Applied Economics, 39, 2006, 2, 179-189 (xsd:string)
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?:urn
  • urn:nbn:de:0168-ssoar-243147 ()
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  • 39 (xsd:string)