Title: Measuring the returns to R&D
Description: "We review the econometric literature on measuring the returns to R&D.  The theoretical frameworks that have been used are outlined, followed by an extensive discussion of measurement and econometric issues that arise when estimating the models.  We then provide a series of tables summarizing the major results that have been obtained and conclude with a presentation of R&D spillover returns measurement.  In general, the private returns to R&D are strongly positive and somewhat higher than those for ordinary capital, while the social returns are even higher, although variable and imprecisely measured in many cases"--National Bureau of Economic Research web site.