International Macroeconomic R&D Spillovers
AbstractThis paper fulfills four functions. First, it presents a self-contained survey of research on international R&D spillovers. Second, a number of new results are presented and briefly discussed. Third, the policy implications of the various empirical findings are examined, and finally, this paper outlines a number of relevant issues in econometric methodology. It is argued that two fundamental econometric problems combine to inherently limit the relevance of this R&D spillovers literature. However, despite these limitations, the macroeconomic approach to R&D spillovers provides additional information on a number of interesting issues in macroeconomics and international trade. In particular, the literature so far indicates that the returns to R&D capital are distributed in rough accordance with factor proportions theory and that more recent models of "semi-endogenous" growth are better supported than are the first wave of endogenous innovation models.
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Bibliographic InfoArticle provided by Queensland University of Technology (QUT), School of Economics and Finance in its journal Economic Analysis and Policy (EAP).
Volume (Year): 28 (1998)
Issue (Month): 1 (March)
Find related papers by JEL classification:
- O33 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
- F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
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