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A revisit to the relationship between patents and R&D using empirical likelihood estimation

Author

Listed:
  • Sheng-Pin Hsueh

    (Department of Finance, Providence University)

  • Wei-Ming Lee

    (Department of Economics, National Chung Cheng University)

Abstract

In this paper we reexamine the relationship between patents and R&D using empirical likelihood estimation. Based on the data of Hall, Griliches, and Hausman (1986) and the specification allowing for endogenous regressors, we found that the contemporaneous effect of R&D is significantly positive, yet the first-lag effect is significantly negative. Moreover, the total effect of R&D is much larger than those found in the early studies.

Suggested Citation

  • Sheng-Pin Hsueh & Wei-Ming Lee, 2012. "A revisit to the relationship between patents and R&D using empirical likelihood estimation," Economics Bulletin, AccessEcon, vol. 32(2), pages 1208-1214.
    • Handle: RePEc:ebl:ecbull:eb-12-00086
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    References listed on IDEAS

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    Cited by:

    1. Yoshitsugu Kitazawa, 2014. "Consistent estimation for the full-fledged fixed effects zero-inflated Poisson model," Discussion Papers 66, Kyushu Sangyo University, Faculty of Economics.
    2. Yoshitsugu Kitazawa, 2012. "An improved theoretical ground for the linear feedback model and a new indicator," Discussion Papers 58, Kyushu Sangyo University, Faculty of Economics.

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    More about this item

    Keywords

    patent; R&D; panel count data; empirical likelihood;
    All these keywords.

    JEL classification:

    • C2 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights

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