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

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.

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Year of publication:	1997-12-11
Authors:	Chiang, Min-Hsien ; Kao, Chihwa ; Chen, Bangtian
Institutions:	EconWPA
Subject:	International R&D Spillovers \| Panel Data \| OLS \| FM \| DOLS \| Cointegration

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Extent:	application/pdf application/postscript
Series:	International Trade.
Type of publication:	Book / Working Paper
Notes:	Type of Document - Tex ; prepared on IBM PC - SWP-TEX; to print on PostScript; pages: 23 23 pages
Classification:	C22 - Time-Series Models ; C23 - Models with Panel Data
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005119273