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This study investigates the long-term effects of various types of R&D on multifactor productivity growth, which is the … spillover effect of R&D. Econometric estimates are conducted on a panel of 16 OECD countries, over the period 1980-98. All …: an increase of 1% in business R&D generates 0.13% in productivity growth. The effect is larger in countries which are …
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In this paper, we apply the asymptotic theory of panel cointegration developed by Kao and Chiang (1997) to Coe and … dynamic OLS (DOLS) estimations produce different predictions about the impact of foreign R&D on total factor productivity (TFP …
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