OxTalks will soon move to the new Halo platform and will become 'Oxford Events.' There will be a need for an OxTalks freeze. This was previously planned for Friday 14th November – a new date will be shared as soon as it is available (full details will be available on the Staff Gateway).
In the meantime, the OxTalks site will remain active and events will continue to be published.
If staff have any questions about the Oxford Events launch, please contact halo@digital.ox.ac.uk
We estimate the causal impact of publicly funded R&D on private-sector productivity growth.
Identification is based on a novel external instrument derived from a narrative classification of all significant postwar changes to federal R&D appropriations. Using long-horizon local projections and our narrative instrument, we find that higher government R&D spending predicts persistent increases in private-sector productivity growth along with other measures of innovation. We estimate that the production function elasticity of government R&D capital is 0.12, implying that the returns to nondefense government R&D averaged roughly 180-211% over 1947-2022. Our estimates suggest that public R&D and public infrastructure investment each accounted for roughly 20-25% of business-sector productivity growth since 1947.
