Many writers have claimed that R&D has two 'faces'. In addition to the conventional role of stimulating innovation, R … capacity'). In this paper we document that there has been convergence of TFP within a panel of industries across thirteen OECD … important in this catch up process as well as stimulating innovation directly. Trade, by contrast, plays a more modest role in …

We survey recent microeconometric research on investment and employment that has used panel data on individual firms or … plants. We focus on model specification and econometric estimation issues, but we also review some of the main empirical … econometric model specification, and some of the solutions that have been adopted. We also discuss estimation issues that arise …