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The empirical analysis in ""International R&D Spillovers"" (Coe and Helpman, 1995) is first revisited by applying modern panel cointegration estimation techniques to an expanded data set that we have constructed for the purpose of this study. The new estimates confirm the key results reported in...
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(NCA). Relying on Dunning’s OLI model and institutional theory, the main finding is that democracy has a significantly …
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