International R&D spillovers: An application of estimation and inference in panel cointegration

Authors
Kao, CH Chiang, MH Chen, BT
Citation
Ch. Kao et al., International R&D spillovers: An application of estimation and inference in panel cointegration, OX B ECON S, 61, 1999, pp. 691
Citations number
9
Categorie Soggetti
Economics
Journal title
OXFORD BULLETIN OF ECONOMICS AND STATISTICS
ISSN journal
03059049 → ACNP
Volume
61
Year of publication
1999
Database
ISI
SICI code
0305-9049(199911)61:<691:IRSAAO>2.0.ZU;2-G
Abstract
In this paper, we apply the asymptotic theory of panel cointegration develo ped by Kao and Chiang (1998) 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 abou t 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.