Technological capital and technical progress in the G5 countries

Patricio Pérez, Marta Bengoa and Adolfo C. Fernández
Additional contact information
Patricio Pérez: Universidad de Cantabria
Marta Bengoa: City College of New York (CUNY), Colin Powell Center for Policy Studies
Adolfo C. Fernández: Universidad de Cantabria

Journal of Applied Economics, 2011, vol. 14, 343-361

Abstract: We conduct an empirical application based on Coe and Helpman’s (1995) seminal work, in order to measure the elasticity of technical progress with respect to R&D capital for the G5 countries between 1971 and 2003. For this purpose, a series for technological capital is built for the 1990-2003 period, and linked with Coe and Helpman’s series for the 1971-1990 period. The technical progress of leading countries depends critically on the domestic R&D capital stock, in line with Coe and Helpman’s (1995) and Coe, Helpman and Hofmaister’s (2009) work. Nevertheless, there are some important differences. The estimations for the elasticity values appear to be higher and show larger differences between countries than in previous studies. Furthermore, the results give evidence in favour of Schumpeterian models, as TFP growth is positively related to the distance to the technological frontier represented by the US.

Keywords: technology; R&D spillovers; dynamic heterogeneity; catching-up (search for similar items in EconPapers)
JEL-codes: O33 O47 O50 (search for similar items in EconPapers)
Date: 2011
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://ucema.edu.ar/publicaciones/download/volume14/perez.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cem:jaecon:v:14:y:2011:n:2:p:343-361

Access Statistics for this article

Journal of Applied Economics is currently edited by Germán Coloma and Mariana Conte Grand and Jorge M. Streb

More articles in Journal of Applied Economics from Universidad del CEMA Contact information at EDIRC.
Bibliographic data for series maintained by Valeria Dowding ().