Coad, Alexander; Rao, Rekha - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2007
havelittle detectable effect on R&D investment. Instead, firms appear to increase their totalR&D expenditure following growth in … growth, employment growth, profits growth andgrowth of R&D expenditure. Contrary to expectations, profit growth seems to … sales and growth of employment. In a sense, firmsbehave ‘as if’ they aim for a roughly constant ratio of R&D to employment …