Irreversibility of R&D investment and the adverse effect of uncertainty: Evidence from the OECD countries

被引：65
|
作者：
Goel, RK [1 ]
Ram, R [1 ]
机构：
[1] Illinois State Univ, Dept Econ, Normal, IL 61790 USA
来源：
ECONOMICS LETTERS | 2001年 / 71卷 / 02期
关键词：
R&D outlays; irreversibility of investment; uncertainty;
D O I：
10.1016/S0165-1765(01)00372-X
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Using annual data far nine OECD countries covering the period 1981-1992, we find a much sharper adverse effect of uncertainty on R&D investments, which are likely to be highly irreversible, than on non-R&D (and aggregate) investments. (C) 2001 Elsevier Science B.V. All rights reserved.
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页码：287 / 291
页数：5
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