European Parliament Library

International R&D Spillovers and Institutions, Willy Hoffmaister, David Coe, Elhanan Helpman

The empirical analysis in "International R&D Spillovers" (Coe and Helpman, 1995) is first revisited by applying modern panel cointegration estimation techniques to an expanded data set that we have constructed for the purpose of this study. The new estimates confirm the key results reported in Coe and Helpman about the impact of domestic and foreign R&D capital stocks on TFP. In addition, we show that domestic and foreign R&D capital stocks have measurable impacts on TFP even after controlling for the impact of human capital. Furthermore, we extend the analysis to include institutional variables, such as legal origin and patent protection, in order to allow for parameter heterogeneity based on a country's institutional characteristics. The results suggest that institutional differences are important determinants of total factor productivity and that they impact the degree of R&D spillovers
Table Of Contents
Contents; I. Introduction; II. Data; Tables; 1. Summary Statistics; Figures; 1. Total Factor Productivity; 2. Domestic R&D Capital Stocks; 3. Foreign R&D Capital Stocks Using Bilateral Import Weights; 4. Import Share in GDP; 5. Human Capital; III. Econometric Preliminaries; 2. Panel Unit Root Tests; 3. Panel Cointegration Tests; IV. "International R&D Spillovers" Revisited; 4. Specification in Coe and Helpman (1995) with Expanded Sample; 5. Dynamic OLS Within and Mean Group Estimates with Human Capital; V. Institutions and International R&D Spillovers
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (37 p.)
Specific Material Designation
Form Of Item

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