International R&D spillovers: the role of financial markets

Isabell Koske

Applied Economics Letters, 2009, vol. 16, issue 15, 1533-1536

Abstract: This article examines the role of financial markets as a catalyst for international technology diffusion using a panel data set on 72 countries over the period 1981 to 2005. The results suggest that countries with better developed financial markets benefit more from foreign R&D stocks to promote domestic productivity growth. This finding is robust to the inclusion of proxies for human capital and domestic R&D stocks as alternative measures of absorptive capacity.

Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:taf:apeclt:v:16:y:2009:i:15:p:1533-1536

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DOI: 10.1080/13504850701748917

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