R&D Spillovers and Global Growth
We examine the growth promoting roles of R&D, international R&D spillovers, and trade in a world econometric model. A country can raise its total factor productivity by investing in R&D. But countries can also boost their productivity by trading with other countries that have large stocks of knowledge from their cumulative R&D activities. We use a special version of MULTIMOD that incorporates R&D spillovers among industrial countries and from industrial countries to developing countries. Our simulations suggest that R&D, R&D spillovers, and trade play important roles in boosting growth in industrial and developing countries.
Year of publication: |
1996-06
|
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Authors: | Bayoumi, Tamim A ; Helpman, Elhanan ; Coe, David T. |
Institutions: | National Bureau of Economic Research (NBER) |
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