The Determinants of Industrial Research and Development: A Study of the Chemical, Drug, and Petroleum Industries
Abstract
Economists have recently grown interested in doing research on research or R & D,
as it is called in industrial circles. Several studies have tested Schumpeter's hoary
hypothesis that large firms are responsible for most industrial inventive activity.1
Few of these studies, however, suggest why this hypothesis is apparently valid for
some industries and not for others. And statistical studies going beyond this question,
to try to relate R & D expenditures to firm profit expectations and the availability
of funds as in other investment decisions, are rare (Mansfield, 1964; Mueller, 1967).
Type
Journal articlePermalink
https://hdl.handle.net/10161/2581Collections
More Info
Show full item recordScholars@Duke
Henry G. Grabowski
Professor Emeritus of Economics
Professor Grabowski specializes in the investigation of economics in the pharmaceutical
industry, government regulation of business, and the economics of innovation. His
specific interests within these fields include intellectual property and generic competition
issues, the effects of government policy actions, and the costs and returns to pharmaceutical
R&D. He has over one hundred peer reviewed articles analyzing the economics of pharmaceuticals
and also several books and monograph publica
Articles written by Duke faculty are made available through the campus open access policy. For more information see: Duke Open Access Policy
Rights for Collection: Scholarly Articles
Works are deposited here by their authors, and represent their research and opinions, not that of Duke University. Some materials and descriptions may include offensive content. More info