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A spatial panel data version of the knowledge capital model

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  • Christian Sommeregger
  • Christoph Hammer

    ()

  • Daniel Bekesi
  • Matthias Koch

    ()

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    Abstract

    This paper attempts to analyze the impact of knowledge and knowledge spillovers on regional total factor productivity (TFP) in Europe. Regional patent stocks are used as a proxy for knowledge, and TFP is measured in terms of a superlative index. We follow Fischer et. al (2008) by using a spatial-spillover model and a data set covering 203 regions for six time periods. In order to estimate the impact of knowledge stocks we use a spatial autoregressive model with random effects, which allows for three kinds of spatial dependence: Spatial correlation in the innovations, the exogenous and the endogenous variables. The results suggest that there is a significant positive impact of knowledge on regional TFP levels, and that knowledge spills over to neighboring regions. These spillovers decay exponentially with distance at a rate of 8%. Using Monte Carlo simulations we calculate the distribution of direct and indirect effects. The average elasticity of a region's TFP with respect to its own knowledge stock is 0.2 and highly significant. The average effect of all other regions' TFP is about 50% higher, which confirms that the cross-country externalities are important in the measuring of the impact.

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    Bibliographic Info

    Paper provided by European Regional Science Association in its series ERSA conference papers with number ersa11p727.

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    Date of creation: Sep 2011
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    Handle: RePEc:wiw:wiwrsa:ersa11p727

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    1. Ulrich Doraszelski & Jordi Jaumandreu, 2007. "R&D and productivity : estimating production functions when productivity is endogenous," Economics Working Papers, Universidad Carlos III, Departamento de Economía we078652, Universidad Carlos III, Departamento de Economía.
    2. G�ran Therborn & K.C. Ho, 2009. "Introduction," City, Taylor & Francis Journals, Taylor & Francis Journals, vol. 13(1), pages 53-62, March.
    3. Bernard Fingleton, 2001. "Equilibrium and Economic Growth: Spatial Econometric Models and Simulations," Journal of Regional Science, Wiley Blackwell, Wiley Blackwell, vol. 41(1), pages 117-147.
    4. Bernard Fingleton & Julie Le Gallo, 2008. "Estimating spatial models with endogenous variables, a spatial lag and spatially dependent disturbances: Finite sample properties," Papers in Regional Science, Wiley Blackwell, Wiley Blackwell, vol. 87(3), pages 319-339, 08.
    5. Manfred M. Fischer & Thomas Scherngell & Eva Jansenberger, 2005. "The Geography of Knowledge Spillovers between High-Technology Firms in Europe - Evidence from a Spatial Interaction Modelling Perspective," ERSA conference papers, European Regional Science Association ersa05p5, European Regional Science Association.
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