Exploring the Spillover Impact on Productivity of World-Wide Manufacturing Firms
This paper analyzes the relationship between R&D activity, spillovers and productivity at the firm level. Particular attention is put on the formalization of technological spillovers. The analysis is based upon a new dataset composed of 625 worldwide R&D-intensive manufacturing firms whose information has been collected for the period 1987-1994. Given the panel data structure of the sample, ad hoc econometric techniques which deal with both firm's unobserved heterogeneity and weak exogeneity of the right hand-side variables are implemented. The empirical results suggest that spillover effects influence significantly firm's productivity. Nevertheless the effects differ substantially among the pillars of the Triad. The United States are mainly sensitive to their national stock of spillovers while Japan appears to draw from the international stock. On its side, Europe shows a tendency to internalize spillovers.
Volume (Year): (1998)
Issue (Month): 49-50 ()
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