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Intra-industry spillovers and innovation: An econometric analysis at the firm level

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Author Info
Vincent Yao

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Abstract

This paper studies spillover effects of innovation at the firm level and the comparability of generalized method of moments (GMM) estimators with maximum likelihood estimators of the earlier studies. Two sources of spillovers are identified, i.e. intra-industry R&D expenditure and intra-industry innovation output. This paper estimates a negative R&D spillover effect and a positive output spillover effect. Because of the substitution effect of intra-industry R&D spillovers, the elasticity of patent with respect to firm's own R&D expenditure is greater than those estimated in the earlier studies. With GMM, individual effects are incorporated into the models either by developing proxies for them or attempting to eliminate them.

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Publisher Info
Article provided by Taylor and Francis Journals in its journal Economics of Innovation and New Technology.

Volume (Year): 15 (2006)
Issue (Month): 2 (March)
Pages: 119-135
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Handle: RePEc:taf:ecinnt:v:15:y:2006:i:2:p:119-135

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Related research
Keywords: Spillovers; Innovation; General methods of moments; R&D expenditure;

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  1. Arellano, Manuel & Bond, Stephen, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," Review of Economic Studies, Blackwell Publishing, vol. 58(2), pages 277-97, April. [Downloadable!] (restricted)
  2. Jinyoung Kim & Gerald Marschke, 2004. "Accounting for the recent surge in U.S. patenting: changes in R&D expenditures, patent yields, and the high tech sector," Economics of Innovation and New Technology, Taylor and Francis Journals, vol. 13(6), pages 543-558, September. [Downloadable!] (restricted)
  3. Bronwyn H. Hall & Zvi Griliches & Jerry A. Hausman, 1986. "Patents and R&D: Is There A Lag?," NBER Working Papers 1454, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  4. Mairesse,Jacques & Mohnen,Pierre, 2004. "The Importance of R&D for Innovation: A Reassessment Using French Survey Data," Research Memoranda 022, Maastricht : MERIT, Maastricht Economic Research Institute on Innovation and Technology. [Downloadable!]
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  5. Jerry A. Hausman & Bronwyn H. Hall & Zvi Griliches, 1984. "Econometric Models for Count Data with an Application to the Patents-R&D Relationship," NBER Technical Working Papers 0017, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  6. Crepon, Bruno & Duguet, Emmanuel, 1997. "Estimating the Innovation Function from Patent Numbers: GMM on Count Panel Data," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 12(3), pages 243-63, May-June. [Downloadable!]
  7. Link, Albert N. & Paton, David & Siegel, Donald S., 2002. "An analysis of policy initiatives to promote strategic research partnerships," Research Policy, Elsevier, vol. 31(8-9), pages 1459-1466, December. [Downloadable!] (restricted)
  8. Heckman, James J, 1979. "Sample Selection Bias as a Specification Error," Econometrica, Econometric Society, vol. 47(1), pages 153-61, January. [Downloadable!] (restricted)
  9. Bernstein, Jeffrey I & Nadiri, M Ishaq, 1989. "Research and Development and Intra-industry Spillovers: An Empirical Application of Dynamic Duality," Review of Economic Studies, Blackwell Publishing, vol. 56(2), pages 249-67, April. [Downloadable!] (restricted)
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  10. Zvi Griliches, 1992. "The Search for R&D Spillovers," NBER Working Papers 3768, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  11. Adam B. Jaffe & Manuel Trajtenberg & Rebecca Henderson, 1992. "Geographic Localization of Knowledge Spillovers as Evidenced by Patent Citations," NBER Working Papers 3993, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  12. Crepon, B. & Duguet, E., 1995. "Research and Development, Competition and Innovation; Pseudo Maximum Likelihood and Simulated Maximum Likelihood Methods Applied to Count Data Models with Heterogeneity," Papiers d'Economie Mathématique et Applications 95.08, Université Panthéon-Sorbonne (Paris 1).
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  13. Richard Blundell & Steve Bond & Frank Windmeijer, 2000. "Estimation in dynamic panel data models: improving on the performance of the standard GMM estimator," IFS Working Papers W00/12, Institute for Fiscal Studies. [Downloadable!]
  14. Zvi Griliches, 1991. "Patent Statistics as Economic Indicators: A Survey," NBER Working Papers 3301, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  15. Bruno Crepon & Emmanuel Duguet & Jacques Mairesse, 1998. "Research, Innovation, and Productivity: An Econometric Analysis at the Firm Level," NBER Working Papers 6696, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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