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International R&D spillovers

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  • Coe, David T.
  • Helpman, Elhanan

Abstract

Investment 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 Info

Article provided by Elsevier in its journal European Economic Review.

Volume (Year): 39 (1995)
Issue (Month): 5 (May)
Pages: 859-887

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Handle: RePEc:eee:eecrev:v:39:y:1995:i:5:p:859-887

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  1. Helpman, E., 1991. "Endogenous Macroeconomic Growth Theory," Harvard Institute of Economic Research Working Papers 1570, Harvard - Institute of Economic Research.
  2. Griliches, Zvi, 1988. "Productivity Puzzles and R&D: Another Nonexplanation," Journal of Economic Perspectives, American Economic Association, vol. 2(4), pages 9-21, Fall.
  3. Gene M. Grossman & Elhanan Helpman, 1994. "Endogenous Innovation in the Theory of Growth," Journal of Economic Perspectives, American Economic Association, vol. 8(1), pages 23-44, Winter.
  4. Scherer, F M, 1982. "Inter-Industry Technology Flows and Productivity Growth," The Review of Economics and Statistics, MIT Press, vol. 64(4), pages 627-34, November.
  5. Zvi Griliches, 1980. "R&D and the Productivity Slowdown," NBER Working Papers 0434, National Bureau of Economic Research, Inc.
  6. Adam B. Jaffe, 1986. "Technological Opportunity and Spillovers of R&D: Evidence from Firms' Patents, Profits and Market Value," NBER Working Papers 1815, National Bureau of Economic Research, Inc.
  7. Marianne Schulze-Gattas & Anne Marie Gulde, 1992. "Aggregation of Economic Indicators Across Countries," IMF Working Papers 92/36, International Monetary Fund.
  8. Granger, C. W. J. & Newbold, P., 1974. "Spurious regressions in econometrics," Journal of Econometrics, Elsevier, Elsevier, vol. 2(2), pages 111-120, July.
  9. John F. Helliwell, 1992. "Trade and Technical Progress," NBER Working Papers 4226, National Bureau of Economic Research, Inc.
  10. Engle, Robert F & Granger, Clive W J, 1987. "Co-integration and Error Correction: Representation, Estimation, and Testing," Econometrica, Econometric Society, Econometric Society, vol. 55(2), pages 251-76, March.
  11. David T. Coe & Reza Moghadam, 1993. "Capital and Trade as Engines of Growth in France: An Application of Johansen's Cointegration Methodology," IMF Staff Papers, Palgrave Macmillan, vol. 40(3), pages 542-566, September.
  12. David T. Coe & Reza Moghadam, 1993. "Capital and Trade As Engines of Growth in France," IMF Working Papers 93/11, International Monetary Fund.
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