International and Intersectoral R&D Spillovers in the OECD and East Asian Economies
This study empirically explores international and intersectoral R&D spillover effects on the total factor productivity growth of manufacturing and nonmanufacturing sectors based on a pooled time-series data set of 14 OECD economies and 3 East Asian economies--Korea, Singapore, and Taiwan. The study finds that foreign manufacturing R&D has strong influence on domestic productivity growths of both sectors and that domestic manufacturing R&D has a substantial intersectoral R&D spillover effect on domestic nonmanufacturing productivity growth. The social rates of return to manufacturing R&D are estimated to be two to six times greater than the private rates of return. (JEL D24, O33, F10) Copyright 2004, Oxford University Press.
Volume (Year): 42 (2004)
Issue (Month): 4 (October)
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