This seminar will examine the impact of investment in research and innovation on Australian market sector productivity.
While previous studies have largely focused on a narrow class of private sector intangible assets as a source of productivity gains, this research shows that there is a broad range of other business sector intangible assets that can significantly affect productivity.
The seminar will pay special attention to the role played by public funding for research and innovation. The empirical results suggest that there are significant spillovers to productivity from public sector R&D spending on research agencies and higher education.
We find no evidence for productivity spillovers from indirect public funding for the business enterprise sector, civil sector or defence R&D.
These findings have implications for government innovation policy as they provide insights into possible productivity gains from government funding reallocations.
Listen to an audio recording of this seminar: