Are There International R&D Spillovers Among Randomly Matched Trade Partners? A Response to Keller
Keller (1998) reexamines Coe and Helpman's (1995) analysis of international R&D spillovers focusing on the weights used to define the foreign R&D capital stock. Keller creates "random" weights and shows that they give rise to positive estimates of international R&D spillov...
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Format: | eBook |
Language: | English |
Published: |
Washington, D.C.
International Monetary Fund
1999
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Series: | IMF Working Papers
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Collection: | International Monetary Fund - Collection details see MPG.ReNa |
Summary: | Keller (1998) reexamines Coe and Helpman's (1995) analysis of international R&D spillovers focusing on the weights used to define the foreign R&D capital stock. Keller creates "random" weights and shows that they give rise to positive estimates of international R&D spillovers, casting doubts on the robustness of Coe and Helpman's findings. We show that Keller's "random" weights are essentially simple averages with a random error. We derive alternative random weights and present regressions showing that when they are used to define the foreign R&D capital stock, the estimated international R&D spillover estimates are nonexistent, as would be expected |
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Physical Description: | 21 pages |
ISBN: | 9781451843620 |