Moonshot: Public R&D and Growth

• 成果类型: Article
• 署名作者: Kantor, Shawn; Whalley, Alexander
• 署名单位: State University System of Florida; Florida State University; National Bureau of Economic Research; University of Calgary
• 刊物名称: AMERICAN ECONOMIC REVIEW
• ISSN/ISSBN: 0002-8282
• DOI: 10.1257/aer.20220540
• 发表日期: 2025
• 页码: 2891-2925
• 关键词: knowledge spillovers; SPACE; patents

摘要

We estimate the long-term effect of public R&D on growth in manufacturing by analyzing new data from the Cold War-era space race. We develop a novel empirical strategy that leverages US-Soviet rivalry in space technology to isolate windfall R&D spending. Our results demonstrate that public R&D conducted by NASA contractors increased manufacturing value added, employment, and capital accumulation in space-related sectors. While migration responses were important, they were not sufficient to generate a wedge between local and national effects. The iconic moonshot R&D program had only modest economic effects for both the local and national space-related sectors. (JEL E22, H54, L60, N12, N42, N62, O47)