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The aim of this paper is to test the employment effect of business R&D\nexpenditures, using a unique longitudinal database covering 677 European manufacturing and\nservice firms over the period 1990-2008. Main result from the whole sample dynamic LSDVC\n(Least Squared Dummy Variable Corrected) estimate is the labour-friendly nature of companies�\nR&D, the coefficient of which turns out to be statistically significant, although not very large in\nmagnitude. However, the positive and significant job creation effect of R&D expenditures is\ndetectable in services and high-tech manufacturing but absent in the more traditional manufacturing\nsectors. This means that we should not expect positive employment effects from increasing R&D in\nthe majority of industrial sectors. This evidence should be kept in mind by European innovation\npolicy makers having employment as one of their specific aims.
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