Abstract
In this paper, we apply the asymptotic theory of panel cointegration developed 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 about 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.
| Original language | English (US) |
|---|---|
| Pages (from-to) | 691-709 |
| Number of pages | 19 |
| Journal | Oxford Bulletin of Economics and Statistics |
| Volume | 61 |
| Issue number | SUPPL. |
| DOIs | |
| State | Published - Nov 1 1999 |
ASJC Scopus subject areas
- Statistics and Probability
- Social Sciences (miscellaneous)
- Economics and Econometrics
- Statistics, Probability and Uncertainty