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A Maximum Entropy Approach to the Indenitication of Productive Technology Spillovers

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  • Fernández Vázquez, Esteban
  • Los, Bart

Abstract

R&D activities by one industry often have positive effects on the productivity performance of other industries, as a consequence of technology spillovers. Econometric problems (such as multicollinearity), however, have prevented researchers from identifying the industries that have been responsible for the most important technology spillovers. This paper proposes an alternative estimation approach (Generalized Maximum Entropy econometrics), which can cope with datasets characterized by a high degree of multicollinearity. For a number of industries, rates of return to R&D expenditures by other industries are estimated on a bilateral basis. Furthermore, productivity effects of spillovers from the foreign counterparts of the industry are estimated. The analysis is done for eighteen industries in twelve OECD countries in the period 1976-1999.

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Paper provided by The Research Institute of the Finnish Economy in its series Discussion Papers with number 1106.

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Length: 21 pages
Date of creation: 2007
Date of revision:
Handle: RePEc:rif:dpaper:1106

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  1. Coe, David T & Helpman, Elhanan, 1993. "International R&D Spillovers," CEPR Discussion Papers 840, C.E.P.R. Discussion Papers.
  2. Marcel P. Timmer & Mary O’Mahony & Bart van Ark, 2007. "EU KLEMS Growth and Productivity Accounts: An Overview," International Productivity Monitor, Centre for the Study of Living Standards, vol. 14, pages 71-85, Spring.
  3. Amos Golan & Enrico Moretti & Jeffrey M. Perloff, 1999. "An Information-Based Sample-Selection Estimation Model of Agricultural Workers' Choice between Piece-Rate and Hourly Work," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 81(3), pages 735-741.
  4. Zvi Griliches, 1991. "The Search for R&D Spillovers," NBER Working Papers 3768, National Bureau of Economic Research, Inc.
  5. Adams, James D, 1990. "Fundamental Stocks of Knowledge and Productivity Growth," Journal of Political Economy, University of Chicago Press, vol. 98(4), pages 673-702, August.
  6. Bart Verspagen, 1997. "Measuring Intersectoral Technology Spillovers: Estimates from the European and US Patent Office Databases," Economic Systems Research, Taylor & Francis Journals, vol. 9(1), pages 47-65.
  7. Iain Fraser, 2000. "An application of maximum entropy estimation: the demand for meat in the United Kingdom," Applied Economics, Taylor & Francis Journals, vol. 32(1), pages 45-59.
  8. Bruno Van Pottelsberghe De La Potterie, 1997. "Issues in Assessing the Effect of Interindustry R&D Spillovers," Economic Systems Research, Taylor & Francis Journals, vol. 9(4), pages 331-356.
  9. Keller, Wolfgang, 1998. "Are international R&D spillovers trade-related?: Analyzing spillovers among randomly matched trade partners," European Economic Review, Elsevier, vol. 42(8), pages 1469-1481, September.
  10. M. Ishaq Nadiri, 1993. "Innovations and Technological Spillovers," NBER Working Papers 4423, National Bureau of Economic Research, Inc.
  11. Goto, Akira & Suzuki, Kazuyuki, 1989. "R&D Capital, Rate of Return on R&D Investment and Spillover of R&D in Japanese Manufacturing Industries," The Review of Economics and Statistics, MIT Press, vol. 71(4), pages 555-64, November.
  12. Zvi Griliches, 1998. "Issues in Assessing the Contribution of Research and Development to Productivity Growth," NBER Chapters, in: R&D and Productivity: The Econometric Evidence, pages 17-45 National Bureau of Economic Research, Inc.
  13. Daniel Johnson & Robert Evenson, 1997. "Innovation and Invention in Canada," Economic Systems Research, Taylor & Francis Journals, vol. 9(2), pages 177-192.
  14. Bernstein, Jeffrey I, 1989. "The Structure of Canadian Inter-industry R&D Spillovers, and the Rates of Return to R&D," Journal of Industrial Economics, Wiley Blackwell, vol. 37(3), pages 315-28, March.
  15. Bart Los & Bart Verspagen, 2000. "R&D spillovers and productivity: Evidence from U.S. manufacturing microdata," Empirical Economics, Springer, vol. 25(1), pages 127-148.
  16. Jeffrey Bernstein & Ishaq Nadiri, 1988. "Interindustry R&D Spillovers, Rates of Return, and Production in High-Tech Industries," Carleton Industrial Organization Research Unit (CIORU) 88-01, Carleton University, Department of Economics.
  17. Jaffe, Adam B, 1986. "Technological Opportunity and Spillovers of R&D: Evidence from Firms' Patents, Profits, and Market Value," American Economic Review, American Economic Association, vol. 76(5), pages 984-1001, December.
  18. Golan, Amos & Judge, George G. & Miller, Douglas, 1996. "Maximum Entropy Econometrics," Staff General Research Papers 1488, Iowa State University, Department of Economics.
  19. Wolfgang Keller, 1997. "Technology Flows Between Industries: Identification and Productivity Effects," Economic Systems Research, Taylor & Francis Journals, vol. 9(2), pages 213-219.
  20. Norihisa Sakurai & George Papaconstantinou & Evangelos Ioannidis, 1997. "Impact of R&D and Technology Diffusion on Productivity Growth: Empirical Evidence for 10 OECD Countries," Economic Systems Research, Taylor & Francis Journals, vol. 9(1), pages 81-109.
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