@article{a7c69bc8a300449990af43ee0c4bf45a,
title = "International R&D spillovers",
abstract = "A model is presented based on recent theories of economic growth that treat commercially oriented innovation efforts as a major engine of technological progress. We study the extent to which a country's total factor productivity depends not only on domestic R&D capital but also on foreign R&D capital. Our estimates indicate that foreign R&D has beneficial effects on domestic productivity, and that these are stronger the more open an economy is to foreign trade. Moreover, the estimated rates of return on R&D are very high, both in terms of domestic output and international spillovers.",
keywords = "Productivity, R&D, Spillover",
author = "Coe, {David T.} and Elhanan Helpman",
note = "Funding Information: The work on this paper was partly done when Elhanan Helpman was a Visiting Scholar in the Research Department of the International Monetary Fund. He thanks the IMF for its hospitality and the NSF and U.S.-Israel BSF for financial support. Gene Grossman was instrumentali n the developmento f some of the ideas used in this paper and Zvi Eckstein, Zvi Griliches, Leonardo Leiderman, and Manuel Trajtenberg provided enlightening comments on an earlier draft. Andrew Levin, Mark Taylor, and Alexander Hoffmaister provided helpful discussions on the econometric specification and tests. Shoukang Lin helped construct the R&D capital stocks, Aame Dimanlig did the econometric tests, and Celia Winkler, Nicholas Dopuch, Toh Kuan, and Ehud Yampoler provided research assistance. We are grateful to all of them. The views expressedi n this paper are those of the authors and do not representt he views of the International Monetary Fund or any other institution.",
year = "1995",
month = may,
doi = "10.1016/0014-2921(94)00100-E",
language = "אנגלית",
volume = "39",
pages = "859--887",
journal = "European Economic Review",
issn = "0014-2921",
publisher = "Elsevier",
number = "5",
}
