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R&D Price Inflation, Real BERD and Innovation: Pharmaceuticals, OECD 1980-2000
Research in pharmaceuticals suggests there is a growing imbalance in the spatial distribution of business expenditure in R&D (BERD) and R&D productivity has declined. This evidence derives from data using GDP price deflators to adjust for price inflation but Dougherty et al. (2003) show them to b
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