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Total factor productivity, domestic knowledge accumulation, and international knowledge spillovers in the second half of the twentieth century

Author

Listed:
  • Teresa Sanchis

    () (University of Valencia and Instituto Figuerola, Valencia, Spain)

  • Juan A. Sanchis-Llopis

    (University of Valencia and ERI-CES, Valencia, Spain)

  • Vicente Esteve

    (University of Valencia, Valencia, Spain)

  • Antonio Cubel

    (University of Valencia, Valencia, Spain)

Abstract

This paper analyses the relationship between total factor productivity (TFP) and innovation-related variables during the second half of the twentieth century. We perform this analysis for several European countries (France, Germany, UK, and Spain) and the USA, extending Coe and Helpman’s (Eur Econ Rev 39:859–887, 1995) empirical specification to include human capital. We use a new dataset of patents data for the past 150 years to calculate the stock of knowledge using the perpetual inventory method. Our time series empirical analysis confirms the heterogeneous relationship between innovation variables (domestic stock of knowledge, imports of knowledge, and human capital) and productivity. Our results reveal the extent to which observed differences in technology adoption patterns and the levels of endowment of such resources can explain differences in TFP dynamics across countries. The estimated coefficients confirm the considerable gap that still exists between the European countries and the USA in innovation-related variables. Furthermore, we obtain a finding that may have important implications for innovation policies: the higher the levels of human capital and domestic knowledge stocks, the higher will be the response of TFP to a 1 % increase in any of the aforementioned variables.

Suggested Citation

  • Teresa Sanchis & Juan A. Sanchis-Llopis & Vicente Esteve & Antonio Cubel, 2015. "Total factor productivity, domestic knowledge accumulation, and international knowledge spillovers in the second half of the twentieth century," Cliometrica, Journal of Historical Economics and Econometric History, Association Française de Cliométrie (AFC), vol. 9(2), pages 209-233, May.
  • Handle: RePEc:afc:cliome:v:9:y:2015:i:2:p:209-233
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    File URL: http://dx.doi.org/10.1007/s11698-014-0114-x
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    Keywords

    Innovation; International technology transfer; Productivity; Second half XXth century;

    JEL classification:

    • N14 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: 1913-
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • O22 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Project Analysis

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