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

Chihwa Kao, Min Hsien Chiang, Bangtian Chen

Research output: Contribution to journalArticle

162 Scopus citations

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 languageEnglish (US)
Pages (from-to)691-709
Number of pages19
JournalOxford Bulletin of Economics and Statistics
Volume61
Issue numberSUPPL.
DOIs
StatePublished - Nov 1 1999

ASJC Scopus subject areas

  • Statistics and Probability
  • Social Sciences (miscellaneous)
  • Economics and Econometrics
  • Statistics, Probability and Uncertainty

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