The DOI matches its Crossref record; 21 of the 21 references it cites were found in a registry or an index.
Productivity Puzzles and R&D: Another Nonexplanation
Open accessAbstract
Around 1974-75, output growth and associated productivity measures dropped sharply in the United States and in most other western industrialized nations and continued at rather low rates for most of the rest of the 1970s. During the late 1960s, the growth in research and development (R&D) investment slowed down markedly (in constant dollars) and did not really recover until the late 1970s. Basic research was especially hard hit, showing a substantial absolute decline during the same period. Whether this slowdown in the investment in new technologies can account for the observed productivity slowdown is a fascinating question. I shall argue below that it cannot, at least not yet, since its effects take a long time to work themselves through the innovation and diffusion processes. The oil price hikes of the early and late 1970s and their macro-consequences are, therefore, the most likely direct causes of these pervasive declines in the growth rate of productivity.
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Cites
(2012) · American Economic Review · doi:10.1257/aer.102.2.i · Cited by 13,709
Journal of economic literature
Armstrong, J. S. (1996) · International Journal of Forecasting · doi:10.1016/0169-2070(96)88197-0 · Cited by 9,923
Issues in Assessing the Contribution of Research and Development to Productivity Growth
Griliches, Z. (1979) · The Bell Journal of Economics · doi:10.2307/3003321 · Cited by 4,215
Self-citationSchmookler, J. (1966) · Harvard University Press eBooks · doi:10.4159/harvard.9780674432833 · Cited by 3,101
Jaffe, A. (1986) · National Bureau of Economic Research · doi:10.3386/w1815 · Cited by 2,808
Economics of Worldwide Stagflation
Bruno, M., & Sachs, J. D. (1985) · Harvard University Press eBooks · doi:10.4159/harvard.9780674493049 · Cited by 1,274
Griliches, Z. (1984) · University of Chicago Press eBooks · doi:10.7208/chicago/9780226308920.001.0001 · Cited by 1,137
Self-citationProductivity, R&D, and Basic Research at the Firm Level in the 1970sPreprint
Griliches, Z. (1985) · RePEc: Research Papers in Economics · Cited by 853
Self-citationResearch Costs and Social Returns: Hybrid Corn and Related Innovations
Griliches, Z. (1958) · Journal of Political Economy · doi:10.1086/258077 · Cited by 842
Self-citationGrowth and Slowdown in Advanced Capitalist Economies: Techniques of Quantitative Assessment
Maddison, A. (1995) · EXPLAINING THE ECONOMIC PERFORMANCE OF NATIONS · doi:10.4337/9781035352128.00008 · Cited by 748
Cited by
From R&D to Innovation and Economic Growth in the EU
Bilbao‐Osorio, B., & Rodríguez‐Pose, A. (2004) · Growth and Change · doi:10.1111/j.1468-2257.2004.00256.x · Cited by 420
Barro, R. J. (2015) · The Economic Journal · doi:10.1111/ecoj.12247 · Cited by 323
Distinguished Lecture on Economics in Government: Lessons from Past Productivity Booms
Ferguson, R. W., & Wascher, W. L. (2004) · Journal of Economic Perspectives · doi:10.1257/0895330041371286 · Cited by 30
Metadata
- Authors
- Griliches, Z.
- Venue
- Journal of Economic Perspectives
- Publisher
- American Economic Association
- Published
- 1988-11-01
- Volume
- 2
- Issue
- 4
- Pages
- 9-21
- ISSN
- 0895-3309 (ISSN-L)
- OpenAlex
- W2005070057
- Cited by
- 324
- References
- 21
- FWCI
- 20.06
- Type
- journal article
- Language
- en
- Open access
- bronze
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