Abstract

http://ssrn.com/abstract=2064953
 


 



Technological Capital and Technical Progress in the G5 Countries


Patricio Perez


University of Cantabria - Department of Economics

Marta Bengoa-Calvo


Colin Powell Center for Policy Studies and Colin Powell School for Civic and Global Leadership

Adolfo C. Fernández


University of Cantabria

November 1, 2011

Journal of Applied Economics, Vol. XIV, No. 2 (November 2011), 343-361

Abstract:     
We conduct an empirical application based on Coe and Helpman’s (1995) seminal work, in order to measure the elasticity of technical progress with respect to R&D capital for the G5 countries between 1971 and 2003. For this purpose, a series for technological capital is built for the 1990-2003 period, and linked with Coe and Helpman’s series for the 1971-1990 period. The technical progress of leading countries depends critically on the domestic R&D capital stock, in line with Coe and Helpman’s (1995) and Coe, Helpman and Hofmaister’s (2009) work. Nevertheless, there are some important differences. The estimations for the elasticity values appear to be higher and show larger differences between countries than in previous studies. Furthermore, the results give evidence in favour of Schumpeterian models, as TFP growth is positively related to the distance to the technological frontier represented by the US.

Keywords: technology, R&D spillovers, dynamic heterogeneity, catching-up

JEL Classification: O33, O50, O47

Accepted Paper Series


Not Available For Download

Date posted: May 22, 2012  

Suggested Citation

Perez, Patricio and Bengoa-Calvo, Marta and Fernández, Adolfo C., Technological Capital and Technical Progress in the G5 Countries (November 1, 2011). Journal of Applied Economics, Vol. XIV, No. 2 (November 2011), 343-361. Available at SSRN: http://ssrn.com/abstract=2064953

Contact Information

Patricio Perez (Contact Author)
University of Cantabria - Department of Economics ( email )
Santander 39005
Spain
Marta Bengoa-Calvo
Colin Powell Center for Policy Studies and Colin Powell School for Civic and Global Leadership ( email )
160 Convent Av
New York, NY 10031
United States
Adolfo C. Fernández
University of Cantabria ( email )
Avda. Los Castros, s/n
Santander 39005
Spain
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