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of the basic research component of such expenditures was significantly higher than its nominal ratio would imply; and …
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of the basic research component of such expenditures was significantly higher than its nominal ratio would imply; and …
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R&D spillovers are, potentially, a major source of endogenous growth in various recent "New Growth Theory" models. This paper reviews the basic model of R&D spillovers and then focuses on the empirical evidence for their existence and magnitude. It reviews the older empirical literature with...
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