A revisit to the relationship between patents and R&D using empirical likelihood estimation

In this paper we reexamine the relationship between patents and R&D using empirical likelihood estimation. Based on the data of Hall, Griliches, and Hausman (1986) and the specification allowing for endogenous regressors, we found that the contemporaneous effect of R&D is significantly positive, yet the first-lag effect is significantly negative. Moreover, the total effect of R&D is much larger than those found in the early studies.

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Year of publication:	2012
Authors:	Hsueh, Sheng-Pin ; Lee, Wei-Ming
Published in:	Economics Bulletin. - AccessEcon, ISSN 1545-2921. - Vol. 32.2012, 2, p. 1208-1214
Publisher:	AccessEcon
Subject:	patent \| R&D \| panel count data \| empirical likelihood

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Extent:	application/pdf
Type of publication:	Article
Classification:	C2 - Econometric Methods: Single Equation Models ; O3 - Technological Change; Research and Development
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011278522