The International Dynamics of R&D and Innovation in the Long Run and in the Short Run
Bocconi University - IGIER - Innocenzo Gasparini Institute for Economic Research; University of Bologna - Department of Economics; Centre for Economic Policy Research (CEPR)
University of California, Davis - Department of Economics
Economic Journal, Vol. 11, No. 518, pp. 486-511, March 2007
In this article we estimate the dynamic relationship between employment in R&D and generation of knowledge as measured by patent applications across OECD countries. In several recently developed models, known as idea-based models of growth, the idea-generating process is the engine of productivity growth. Moreover, in real business cycle models technological shocks are an important source of fluctuations. Our empirical strategy is able to test whether knowledge spillovers are strong enough to generate sustained endogenous growth and to estimate the quantitative impact of international knowledge on technological innovation of a country in the short and in the long run.
Number of Pages in PDF File: 26Accepted Paper Series
Date posted: April 11, 2007
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