trade might be called the ""missing globalization puzzle."" This puzzle is most apparent in the estimated distance … evidence of globalization, on both cross-section and panel data, reflected in a variety of measures of geography. Our …

Keller (1998) reexamines Coe and Helpman’s (1995) analysis of international R&D spillovers focusing on the weights used … estimates of international R&D spillovers, casting doubts on the robustness of Coe and Helpman’s findings. We show that Keller … regressions showing that when they are used to define the foreign R&D capital stock, the estimated international R&D spillover …

, monetary and fiscal issues, global liquidity, and national and international economic developments …