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Complementarity between private and public investment in R&D: A Dynamic Panel Data analysis

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  • Sadraoui Tarek

    ()
    (URDEE - unité de recherche sur la dynamique économique et de l'environnement - FSEGS Sfas)

  • Naceur Ben Zina

Abstract

This paper investigates the relationship between private and public investment in R&D, while taking into account the effect of several instruments policies such as subsidies and taxes. We design a new look of knowledge spillovers and R&D cooperation to explain the contribution of public and private R&D on growth. We propose a heterogeneous dynamic panel data model to consider the endogenous effect of R&D investment. We also distinguish between the estimated long and short run results. Our results based on a sample of 23 countries over the period 1992-2004 indicate that both public and private investments in R&D are complementary. By establishing an endogenous growth model, the estimates indicate that public and private R&D depends on the host country's human capital investment. Results indicate that foreign direct investment is a more significant spillover channel than imports.

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Bibliographic Info

Paper provided by HAL in its series Post-Print with number hal-00388525.

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Date of creation: 01 Jul 2009
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Publication status: Published - Presented, IAENG Conferences - WCE 2009 International Conference of Computational Statistics and Data Engineering, 2009, London, United Kingdom
Handle: RePEc:hal:journl:hal-00388525

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Related research

Keywords: R&D investment; Technology Spillovers; Complementarities; Economic growth; Dynamic Panel Data; Cointegration; Unit root test; Private investment; Public investment; R&D cooperation;

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  1. Enrique López-Bazo & Francisco Requena & Guadalupe Serrano, 2006. "Complementarity Between Local Knowledge And Internationalization In Regional Technological Progress," Journal of Regional Science, Wiley Blackwell, vol. 46(5), pages 901-929.
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