International R&D spillovers
AbstractInvestment in research and development (R&D) affects a country's total factor productivity. Recently new theories of economic growth have emphasized this link and have also identified a number of channels through which a country's R&D affects total factor productivity of its trade partners. Following these theoretical developments we estimate the effects of a country's R&D capital stock and the R&D capital stocks of its trade partners on the country's total factor productivity. We find large effects of both domestic and foreign R&D capital stocks on total factor productivity. The foreign R&D capital stocks have particularly large effects on the smaller countries in our sample (that consists of 22 countries). Moreover, we find that about one-quarter of the worldwide benefits of investment in R&D in the seven largest economies are appropriated by their trade partners.
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Bibliographic InfoArticle provided by Elsevier in its journal European Economic Review.
Volume (Year): 39 (1995)
Issue (Month): 5 (May)
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Web page: http://www.elsevier.com/locate/eer
Other versions of this item:
- Coe, D.T. & Helpman, E., 1993. "International R&D Spillovers," Papers, Tel Aviv 5-93, Tel Aviv.
- David T. Coe & Elhanan Helpman, 1993. "International R&D Spillovers," NBER Working Papers 4444, National Bureau of Economic Research, Inc.
- Coe, David T & Helpman, Elhanan, 1993. "International R&D Spillovers," CEPR Discussion Papers, C.E.P.R. Discussion Papers 840, C.E.P.R. Discussion Papers.
- O4 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
- F1 - International Economics - - Trade
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