International R&D Spillovers: An Application of Estimation and Inference in Panel Cointegration

Chihwa Kao, Min-Hsien Chiang and Bangtian Chen

No 4, Center for Policy Research Working Papers from Center for Policy Research, Maxwell School, Syracuse University

Abstract: In this paper, we apply the asymptotic theory of panel cointegration developed by Kao and Chiang (1997) to Coe and Helpman's (1995) international R&D spillovers regression. The OLS with bias-correction, the fully-modified (FM) and the dynamic OLS (DOLS) estimations produce different predictions abaout the impact of foreign R&D on total factor productivity (TFP), although all the estimations support the result that domestic R&D is related to TFP.

JEL-codes: C22 C23 F16 (search for similar items in EconPapers)
Pages: 25 pages
Date: 1999-03
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Citations: View citations in EconPapers (266)

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Journal Article: International R&D Spillovers: An Application of Estimation and Inference in Panel Cointegration (1999)
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Persistent link: https://EconPapers.repec.org/RePEc:max:cprwps:4

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