(NAS Colloquium) Science, Technology and the Economy (1996) / Chapter Skim
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Public-private interaction in pharmaceutical research
Public-private interaction in pharmaceutical research
Pages 71-76
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From page 71... ...
AND REBECCA HENDERSONTT * Faculty of Commerce and Business Administration and National Bureau of Economic Research, University of British Columbia, Vancouver, BC, Canada V6T 1Z2; and Sloan School of Management and National Bureau of Economic Research, Massachusetts Institute of Technology, Cambridge, MA 02138 ABSTRACT We empirically examine interaction between the public and private sectors in pharmaceutical research using qualitative data on the drug discovery process and quantitative data on the incidence of coauthorship between public and private institutions.
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From page 72... ...
Publication of results makes the output of public sector research effort freely available, but the ability of the private sectors to access and use this knowledge appears to require a substantial investment in doing "basic science." To take from the industry's knowledge base, the private sector must also contribute to it. Taken together, our results suggest that the conventional picture of public research as providing a straightforward "input" of basic knowledge to downstream, applied private research may be quite misleading, and that any estimation of the returns to publicly funded research must take account of this complexity.
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From page 73... ...
Leading private sector researchers publish very heavily, indeed, with the most productive researchers in our sample firms publishing more than 20 papers per year. These firms also exhibit the heavily skewed distribution of publications per researcher and disproportionate share of "star" researchers characteristic of publicly funded research communities (20~.
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From page 74... ...
Formal tests strongly reject homogeneity across firms in the distribution of their coauthorships over TYPE, even after controlling for a time trend. In prior work we found substantial and sustained Tarragon across firms in research productivity, which we believe are driven to a great extent by differences in the ability of firms to access and use knowledge spillovers.
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From page 75... ...
Our preliminary results suggest that participating in this exchange may be an important determinant of private sector research productivity: The relationship between public and private sectors appears to involve much more than the simple, costless, transfer of basic knowledge from publicly funded institutions to profit-oriented firms. Without further work exploring the social rate of return to research it is, of course, difficult to draw conclusions for public policy from these results.
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From page 76... ...
(1994) Intellectual Capital and the Firm: the Technology of Geographically Localized Knowledge Spillovers, National Bureau of Economic Research Working Paper No.
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