DP15155 R&D Spillovers through RJV Cooperation
We investigate the dimensions through which R&D spillovers are propagated across ﬁrms 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 ﬁndings are that the adverse eﬀects of product market rivalry are mitigated if ﬁrms cooperate in RJVs and that R&D spending is reduced among technologically close RJV participants.