The UK research and development satellite account:
A preliminary analysis

Whittard, Damian

Abstract

This paper presents preliminary analysis treating the consumption of research and experimental development (R&D) as investment in an intangible scientific asset, in line with proposed revisions to the United Nations System of National Accounts. The purpose of this analysis is to communicate to users of statistics the potential impacts
of capitalising R&D in the National Accounts in a new set of satellite accounts. Capitalising R&D raises the level of UK GDP by approximately 1.5 percent, but has limited impact on estimates of recent GDP growth. In addition, we investigate the
robustness of our results to key assumptions, finding significant sensitivity only at a
relatively disaggregated level. The figures presented are preliminary, based on
experimental methods, and should therefore be interpreted with caution. The authors
welcome comments and complementary evidence that can be used to substantiate or
revise the assumptions made throughout the paper.
Keywords: National Accounts, R&D, UK, Investment
JEL classifications: C40, C82, E01, E22, O30

Citation

A preliminary analysis. Presented at 30th General Conference of the International Association for Research in Income and Wealth, Slovenia

• Presentation Conference Type: Keynote
• Conference Name: 30th General Conference of the International Association for Research in Income and Wealth
• Conference Location: Slovenia
• Start Date: Aug 24, 2008
• End Date: Aug 24, 2008
• Publication Date: Aug 24, 2008
• Deposit Date: Apr 16, 2013
• Publicly Available Date: Jul 8, 2016
• Peer Reviewed: Peer Reviewed
• Keywords: national accounts, R&D, UK, investment
• Public URL: https://uwe-repository.worktribe.com/output/1010143
• Additional Information: Title of Conference or Conference Proceedings : 30th General Conference of the International Association for Research in Income and Wealth