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R&D Satellite Accounts in the Netherlands 2008 World Congress on National Accounts and Economic

R&D Satellite Accounts in the Netherlands 2008 World Congress on National Accounts and Economic Performance Measures for Nations May 12-17, 2008 Washington D.C. Session 4A: R&D and Capital Myriam van Rooijen-Horsten Murat Tanriseven Mark de Haan.

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R&D Satellite Accounts in the Netherlands 2008 World Congress on National Accounts and Economic

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  1. R&D Satellite Accounts in the Netherlands 2008 World Congress on National Accounts and Economic Performance Measures for Nations May 12-17, 2008 Washington D.C. Session 4A: R&D and Capital Myriam van Rooijen-Horsten Murat Tanriseven Mark de Haan

  2. R&D satellite account (part of knowledge module): • Recording of R&D expenditure as gross fixed capital formation, including measurement of: • R&D capital stocks • R&D consumption of fixed capital • R&D capital services Uses: → Quantifying effects on macro aggregates → Knowledge economy indicators (knowledge investment) → Growth accounting

  3. Points of attention: • ► Use of Frascati R&D statistics • ► R&D prices • In this paper: • ► Measurement international R&D flows • ► Service lives & efficiency (or profitability) patterns

  4. Internationalisation of R&D Research: 8 companies ≈ 46% of BERD (2005) ▪ their activities in the Netherlands: → 13% of all employees → 34% of R&D personnel ▪ 1 company reports 90% R&D export share (R&D financed by foreign affiliates) ▪ other 7 report no R&D export

  5. Internationalisation of R&D Research con’d: Interviews with 5 companies ≈ 33% of BERD (2005) ▪ Organisation and financing of R&D differ considerably between companies → location → financing ▪ Legal ownership at company level, Economic ownership in hands of business units ▪ Company balance sheets do not include R&D

  6. Internationalisation of R&D Conclusions: • For multinationals international R&D service flows are being underreported→ Export: Indeed!→ Import: ? • This complicates measurement of R&D investment Possible solutions: • Introducing survey questions on R&D sales and purchases of R&D services • Custom made surveying of largest companies

  7. R&D service lives • Using age distribution of patents as proxy for all knowledge capital • Two averages▪ unweighted ≈ 7 years ▪ weighted by patent values ≈ 18 years • Outcome: average service life of 12.5 yearsExceptions▪ Chemical industry: 15.5 years▪ Electro technical industry: 9.5 years

  8. Summary of results Changes national accounts aggregates, the Netherlands • 1998 2000 2002 2004 • GFCF in R&Dbln €4.2 5.0 5.6 6.0 • Adjustment of GFCF in % % 5.3 5.5 6.0 6.4 • Adjustment of GDP in % % 1.2 1.2 1.2 1.2 • Volume-index (1998=100) • GFCF in R&D 100 109.7 111.3 114.0 • GFCF 100 109.3 104.5 101.3 • Adjusted GFCF 100 109.3 104.9 101.9

  9. Importance of R&D and other intangible capital in the Netherlands as % of GDP Summary of results • 2001 - 2004 • Computer software and databases 1.4% • Innovative property • R&D 1.9% • Mineral exploration 0.1% • Other (e.g. artistic originals)1.1% • Economic competencies • Brand equity 2.7% • Firm-specific human capital 1.2% • Organizational structure 1.3% • Total 9.6%

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