Are There International R&D Spillovers Among Randomly Matched Trade Partners? A Response to Keller

David Coe () and Alexander Hoffmaister

No 1999/018, IMF Working Papers from International Monetary Fund

Abstract: Keller (1998) reexamines Coe and Helpman’s (1995) analysis of international R&D spillovers focusing on the weights used to define the foreign R&D capital stock. Keller creates “random” weights and shows that they give rise to positive estimates of international R&D spillovers, casting doubts on the robustness of Coe and Helpman’s findings. We show that Keller’s “random” weights are essentially simple averages with a random error. We derive alternative random weights and present regressions showing that when they are used to define the foreign R&D capital stock, the estimated international R&D spillover estimates are nonexistent, as would be expected.

Keywords: WP; research and development; share; R&D; spillovers; technology; total factor productivity; import share; R&D capital stock; spillover estimate; random sampling; import weight; Imports; Stocks; Trade balance; Plurilateral trade (search for similar items in EconPapers)
Pages: 21
Date: 1999-02-01
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Citations: View citations in EconPapers (60)

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