This paper extends earlier work on the RID to patents relationship (Pakes-Griliches 1980, and Hausman, Hall, and Griliches,1984) to a larger but shorter panel of firms…R&D itself turns out to befairly well approximated by a random walk. Neither approach yields strong evidence of a long lag. The available sample, though numerically large, turns out not to be particularily informative on this question. It does reconfirm, however, a significant effect of R&D on patenting (with most of it occuring in the first year) and the presence of rather wide and semi-permanent differences among firms in their patenting policies.
Bronwyn H. Hall, Zvi Griliches, Jerry A. Hausman
International Economic Review
June 1986
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