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

Min-Hsien Chiang, Chihwa Kao and Bangtian Chen
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Min-Hsien Chiang: National Taiwan University of Science and Technology
Bangtian Chen: Security First Technologies

International Trade from University Library of Munich, Germany

Abstract: In this paper, we apply the asymptotic theory of panel cointegration developed by Kao and Chiang (1997) 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.

Keywords: International R&D Spillovers; Panel Data; OLS; FM; DOLS; Cointegration. (search for similar items in EconPapers)
JEL-codes: C22 C23 (search for similar items in EconPapers)
Pages: 23 pages
Date: 1997-12-11
Note: Type of Document - Tex ; prepared on IBM PC - SWP-TEX; to print on PostScript; pages: 23
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