DP15155 R&D Spillovers through RJV Cooperation
|Author(s):||Albert Banal-Estanol, Tomaso Duso, Jo Seldeslachts, Florian Szücs|
|Publication Date:||August 2020|
|Keyword(s):||Market value, patents, R&D, Research Joint Ventures, Spillovers|
|JEL(s):||K21, L24, L44, O32|
|Programme Areas:||Industrial Organization|
|Link to this Page:||cepr.org/active/publications/discussion_papers/dp.php?dpno=15155|
We investigate the dimensions through which R&D spillovers are propagated across fi?rms via cooperation through Research Joint Ventures (RJVs). We build on the framework developed by Bloom et al. (2013) which considers the opposing effects of technology spillovers and product market rivalry, and extend it to account for RJVs. Our main fi?ndings are that the adverse effects of product market rivalry are mitigated if fi?rms cooperate in RJVs and that R&D spending is reduced among technologically close RJV participants.