International R&D Spillovers: An Application of Estimation and Inference in Panel Cointegration

Chihwa Kao, Min‐Hsien Chiang and Bangtian Chen

Oxford Bulletin of Economics and Statistics, 1999, vol. 61, issue S1, 691-709

Abstract: In this paper, we apply the asymptotic theory of panel cointegration developed by Kao and Chiang (1998) to Coe and Helpman's (1995) international R&D spillovers regression. The OLS with bias‐correction, the fully‐modified (FM) and the dynamic OLS (DOLS) estimations produce different predictions about the impact of foreign R&D on total factor productivity (TFP) although all the estimations support the result that domestic R&D is related to TFP.

Date: 1999
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https://doi.org/10.1111/1468-0084.0610s1691

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Working Paper: International R&D Spillovers: An Application of Estimation and Inference in Panel Cointegration (1999)
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