Spescha, Andrin; Wörter, Martin - 2016
This paper investigates the causal relationship between firms' research and development expenditures (R&D) and their …, a 2SLS approach to uncover the direction of causality between R&D and fixed capital investment. In order to obtain …. Results show a one-way causal relationship; we find evidence for that firms' R&D expenditures cause fixed capital investments …