Huergo, Elena; Moreno, Lourdes - Economics and Econometrics Research Institute (EERI) - 2010
This paper analyzes the relationship between R&D expenditures, innovation and productivity growth, taking into account … generation of innovations and the impact of these technological outputs on total factor productivity growth. Our results reflect … omission of this persistence leads to an overestimation of the current impact of innovations on productivity growth. However …