Friday, September 28, 2007
Tweet[IWS] BEA: 2007 Research & Development Satellite Account [28 September 2007]
IWS Documented News Service
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
FULL-TEXT REPORT of
2007 Research and Development Satellite Account
Bureau of Economic Analysis/National Science Foundation
September 28, 2007
http://www.bea.gov/newsreleases/general/rd/2007/pdf/rdreport07.pdf
[full-text, 28 pages]
INCLUDES NUMEROUS CHARTS & TABLES.....
Press Release
Research and Development Satellite Account [28 September 2007]
2007 Satellite Account Underscores Importance of R&D
http://www.bea.gov/newsreleases/general/rd/2007/rdspend07.htm
or
http://www.bea.gov/newsreleases/general/rd/2007/pdf/rdspend07.pdf
[full-text, 3 pages]
GDP would be an average of 2.9 percent higher between 1959 and 2004 -- or $284 billion higher in 2004 -- if research and development spending was treated as investment in the U.S. national income and product accounts, the Bureau of Economic Analysis (BEA) announced today. These experimental estimates, produced in conjunction with the National Science Foundation, demonstrate how business spending on research and development would affect the national accounts and gross domestic product. The 2007 Research and Development (R&D) Satellite Account updates and extends the 2006 BEA estimates of the effect of R&D on economic growth.
"Today's data highlight the role of R&D spending in improving the competitiveness of industries such as information technology, pharmaceuticals, and other manufacturing industries," said Commerce Secretary Carlos M. Gutierrez. "These new estimates from BEA demonstrate the importance of one key source of innovation research and development -- in the U.S. economy. Our data must keep pace with the changing and growing economy, and more improvements are planned. For example, an initiative of the Department's Census Bureau to collect additional data on the services industries will help us better understand the importance of R&D in that dynamic sector as well."
National Science Foundation Director, Dr. Arden L. Bement, said of the estimates produced by the Department of Commerce and NSF: "NSF is proud of this partnership. It will lead to a better understanding of the importance of R&D to economic growth, scientific progress and international competitiveness."
The satellite account recognizes that when R&D is treated as investment:
* R&D accounts for 5 percent of real GDP growth between 1959 and 2004, and 7 percent between 1995 and 2004. This ramp-up in R&D's contribution helps explain the pick-up in economic growth and productivity since 1995.
* To put the contribution of R&D in perspective, the business sector's investment in commercial and other types of structures accounts for just over 2 percent of real GDP growth between 1995 and 2004.
* Information, communication, and technology (ICT) and biotechnology-related industries account for two-thirds of the business sector's R&D contribution to GDP growth between 1995-2004.
* Recognizing R&D as investment boosts the level of state GDP the most in New Mexico (8.2 percent) and in Maryland (6.2 percent) between 1998 and 2002.
* In 2004, the value added of majority-owned foreign affiliates of U.S. multinational corporations (MNCs) rises by $26 billion, or 3.1 percent, with R&D capitalization. The value added of majority-owned U.S. affiliates of foreign MNCs rises by $28 billion, or 5.5 percent. For U.S. parent companies, value added rises by $148 billion, or 6.7 percent.
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
FULL-TEXT REPORT of
2007 Research and Development Satellite Account
Bureau of Economic Analysis/National Science Foundation
September 28, 2007
http://www.bea.gov/newsreleases/general/rd/2007/pdf/rdreport07.pdf
[full-text, 28 pages]
INCLUDES NUMEROUS CHARTS & TABLES.....
Press Release
Research and Development Satellite Account [28 September 2007]
2007 Satellite Account Underscores Importance of R&D
http://www.bea.gov/newsreleases/general/rd/2007/rdspend07.htm
or
http://www.bea.gov/newsreleases/general/rd/2007/pdf/rdspend07.pdf
[full-text, 3 pages]
GDP would be an average of 2.9 percent higher between 1959 and 2004 -- or $284 billion higher in 2004 -- if research and development spending was treated as investment in the U.S. national income and product accounts, the Bureau of Economic Analysis (BEA) announced today. These experimental estimates, produced in conjunction with the National Science Foundation, demonstrate how business spending on research and development would affect the national accounts and gross domestic product. The 2007 Research and Development (R&D) Satellite Account updates and extends the 2006 BEA estimates of the effect of R&D on economic growth.
"Today's data highlight the role of R&D spending in improving the competitiveness of industries such as information technology, pharmaceuticals, and other manufacturing industries," said Commerce Secretary Carlos M. Gutierrez. "These new estimates from BEA demonstrate the importance of one key source of innovation research and development -- in the U.S. economy. Our data must keep pace with the changing and growing economy, and more improvements are planned. For example, an initiative of the Department's Census Bureau to collect additional data on the services industries will help us better understand the importance of R&D in that dynamic sector as well."
National Science Foundation Director, Dr. Arden L. Bement, said of the estimates produced by the Department of Commerce and NSF: "NSF is proud of this partnership. It will lead to a better understanding of the importance of R&D to economic growth, scientific progress and international competitiveness."
The satellite account recognizes that when R&D is treated as investment:
* R&D accounts for 5 percent of real GDP growth between 1959 and 2004, and 7 percent between 1995 and 2004. This ramp-up in R&D's contribution helps explain the pick-up in economic growth and productivity since 1995.
* To put the contribution of R&D in perspective, the business sector's investment in commercial and other types of structures accounts for just over 2 percent of real GDP growth between 1995 and 2004.
* Information, communication, and technology (ICT) and biotechnology-related industries account for two-thirds of the business sector's R&D contribution to GDP growth between 1995-2004.
* Recognizing R&D as investment boosts the level of state GDP the most in New Mexico (8.2 percent) and in Maryland (6.2 percent) between 1998 and 2002.
* In 2004, the value added of majority-owned foreign affiliates of U.S. multinational corporations (MNCs) rises by $26 billion, or 3.1 percent, with R&D capitalization. The value added of majority-owned U.S. affiliates of foreign MNCs rises by $28 billion, or 5.5 percent. For U.S. parent companies, value added rises by $148 billion, or 6.7 percent.
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
# posted by SBasefsky : 11:43 AM
