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Spillovers in the production of knowledge: A meta-regression analysis

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  • Neves, Pedro Cunha
  • Sequeira, Tiago Neves

Abstract

The production of knowledge was subjected to quantitative analysis in the second half of the twentieth century, following Arrow (1962). The determinants of knowledge and the externalities present in the innovation process were discussed with immediate policy influence. In particular, the presence and strength of the spillover of the pool of past knowledge has encouraged high subsidization of R&D in the most developed countries. We survey the empirical literature on the spillover effect in the production of knowledge and implement a meta-analytic regression. We discover that the average spillover effect is less than but close to one and is highly significant. We also find that the spillover effect tends to be greater when the estimation of knowledge production accounts for foreign inputs, and it tends to be lower when the estimation includes only rich economies, regional data are used, and the pool of knowledge is not the patent stock.

Suggested Citation

  • Neves, Pedro Cunha & Sequeira, Tiago Neves, 2018. "Spillovers in the production of knowledge: A meta-regression analysis," Research Policy, Elsevier, vol. 47(4), pages 750-767.
  • Handle: RePEc:eee:respol:v:47:y:2018:i:4:p:750-767
    DOI: 10.1016/j.respol.2018.02.004
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    Keywords

    Spillover effect; Knowledge production function; R&D; National innovative capacity; Research policy;

    JEL classification:

    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General

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