Measuring Knowledge Spillovers: A Non-appropriable Returns Perspective
AbstractA new approach is developed to measure knowledge spillovers by means of proportion of non-appropriable returns to social returns, assuming no specific forms of production and knowledge functions. It is complicated theoretically, but very simple and practical empirically. Using PWT 6.3, we find that: 1. the measure of spillovers is nonlinear to income; 2. spillovers do not exist when income is low, but do exist in higher income groups; 3. the elasticity of knowledge is nonlinear to income; 4. spillovers exist even when the elasticity of output to capital is roughly close to direct measure of capital's share.
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Bibliographic InfoArticle provided by Society for AEF in its journal Annals of Economics and Finance.
Volume (Year): 12 (2011)
Issue (Month): 2 (November)
Knowledge spillovers; Measure; Non-appropriable returns; Capital's share; Dynamic OLS;
Find related papers by JEL classification:
- D62 - Microeconomics - - Welfare Economics - - - Externalities
- O33 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
- O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
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