International R&D Spillovers and Institutions

Alexander Hoffmaister, David Coe () and Elhanan Helpman

No 2008/104, IMF Working Papers from International Monetary Fund

Abstract: 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 Coe and Helpman about the impact of domestic and foreign R&D capital stocks on TFP. In addition, we show that domestic and foreign R&D capital stocks have measurable impacts on TFP even after controlling for the impact of human capital. Furthermore, we extend the analysis to include institutional variables, such as legal origin and patent protection, in order to allow for parameter heterogeneity based on a country's institutional characteristics. The results suggest that institutional differences are important determinants of total factor productivity and that they impact the degree of R&D spillovers.

Keywords: WP; R&D capital; estimation technique; group estimates give; time series (search for similar items in EconPapers)
Pages: 35
Date: 2008-04-01
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Citations: View citations in EconPapers (58)

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Related works:
Journal Article: International R&D spillovers and institutions (2009)
Working Paper: International R&D Spillovers and Institutions (2008)
Working Paper: International R&D Spillovers and Institutions (2008)
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