Travail de recherche/Working paper
Résumé : | This paper examines the sources of the EU’s lagging business R&D performance relative to the US, particularly the contribution of missing young leading innovators in high technology intensive sectors in Europe. It investigates through econometric analysis whether the lower presence in the EU of young leading innovators and in high-tech sectors is due to lower rates of return to R&D as compared to their US counterparts. The analysis indeed finds such lower rates of return. |