Sustainable Transportation Energy Pathways (STEPS)
Available online at doi: 10.1016/j.enpol.2011.02.048
Corderi, David and C.-Y. Cynthia Lin Lawell (2011) Measuring the Social Rate of Return to R&D in Coal, Petroleum and Nuclear Manufacturing: A Study of the OECD Countries. Energy Policy 39 (5), 2780 - 2785
This paper estimates the social rate of return to research and development (R&D) in the energy manufacturing industry. Our model tries to quantify the positive contribution that lagged R&D has on total factor productivity (TFP) growth in the manufacturing of coal, petroleum products and nuclear fuel for a number of OECD countries. Using a panel of data from the OECD STAN database we are able to obtain results suggesting that R&D has a positive and significant rate of return that varies for each country.
Keywords: social rate of return to R&D, energy, R&D