In a recent paper, Bloom et al. (2020) find evidence for a substantial decline in research productivity in the U ….S. economy during the last 40 years. In this paper, we replicate their findings for China and Germany, using detailed firm …

China’s R&D policy could have been more than twice as effective in boosting R&D without misappropriation. R&D expenditures … misappropriation of public funds considerably undermines the impact of R&D policies in China. …