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

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 abaout 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:	1999-03
Authors:	Kao, Chihwa ; Chiang, Min-Hsien ; Chen, Bangtian
Institutions:	Center for Policy Research, Maxwell School

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Extent:	application/pdf
Series:	Center for Policy Research Working Papers.
Type of publication:	Book / Working Paper
Notes:	Number 4 25 pages
Classification:	C22 - Time-Series Models ; C23 - Models with Panel Data ; F16 - Trade and Labor Market Interactions
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005698370