Le, T, Pham, H orcid.org/0000-0002-0764-9182, Mai, S et al. (1 more author) (2022) Frontier academic research, industrial R&D and technological progress: The case of OECD countries. Technovation, 114. 102436. ISSN 0166-4972
Abstract
Since frontier academic research is often thought to be driven by recognition and promotion rather than commercial values, its real contribution to a country's technological progress is sometimes doubted. Against this skepticism, this paper argues that frontier academic research resembles a public good and creates important scientific foundations for industrial innovation. When diffused to industry, it significantly contributes to the country's technological improvement. Using panel OLS and dynamic panel OLS estimation methods to analyze a dataset of 18 OECD countries during 2003–2017, this paper finds substantial support to this theory. Obtained results indicate that both frontier academic research and industrial R&D are beneficial to a country's technological progress, but a large proportion of the effect of frontier academic research on a country's technological development is transferred through industrial R&D. In countries with relatively abundant industrial R&D, frontier academic knowledge becomes relatively less attractive in production. These results are robust across different estimation methods, regression specifications, and different proxies of frontier academic research and technological progress. They convey important implications for policymakers in designing national strategies towards promoting a nation's long-term technological development.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2021 Elsevier Ltd. All rights reserved. This is an author produced version of an article published in Technovation. Uploaded in accordance with the publisher's self-archiving policy. |
Keywords: | Frontier academic research; Industrial R&D; mediation analysis; Total factor productivity |
Dates: |
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Institution: | The University of Leeds |
Academic Units: | The University of Leeds > Faculty of Business (Leeds) > International Business Division (LUBS) (Leeds) |
Depositing User: | Symplectic Publications |
Date Deposited: | 16 Dec 2021 10:03 |
Last Modified: | 08 Dec 2023 01:13 |
Status: | Published |
Publisher: | Elsevier |
Identification Number: | 10.1016/j.technovation.2021.102436 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:181608 |