A Contribution to the Schumpeterian Growth Theory and Empirics

This paper proposes an integrated theoretical and methodological framework characterized by technological interactions to explain growth processes from a Schumpeterian perspective. Global interdependence implied by international R&D spillovers needs to be taken into account in the theoretical model as well as in the empirical model. The spatial econometric methodology is the adequate tool to empirically deal with this issue. The econometric model we propose includes the neoclassical growth model as a particular case. We can therefore explicitly test the role of R&D investment in the long run growth process against the Solow growth model. Finally, the properties of our spatial econometric specification allow evaluating explicitly the impact of home and foreign R&D spillovers.