Research and development in Australia's recent productivity growth
The conference presentation, Research and development in Australia's recent productivity growth, was presented by Sid Shanks from the Productivity Commission, at the Productivity Perspectives 2004 conference.
Key changes in the level and composition of resources utilised in R&D
- Australia experienced a long run increase in R&D, with roughly half of the increase accounted for by rising business investment levels
- R&D investment increased the fastest through the period from the mid-1980s to the mid-1990s
- While there has been a broad-based increase in R&D investment levels across industries, rates of growth vary significantly
- The share of business R&D accounted for by service industries (including construction and utilities) is now equal to that of manufacturing
- The composition of Australia’s R&D is more ‘market oriented’, largely resulting from the increased share of business in total R&D, but also from changes within higher education and government
‘Early observations’ from empirical modelling to date
- Some models are estimated well but, in general, point estimates lack robustness in modelling to date
- Further extensions to the modelling are envisaged and will be outlined.
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