R&D Spillovers and Global Growth
31 Pages Posted: 15 Feb 2006
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R&D Spillovers and Global Growth
R&D Spillovers and Global Growth
Date Written: May 1996
Abstract
We examine the growth promoting roles of R&D, international R&D spillovers, and trade in a world econometric model. A country can raise its total factor productivity by investing in R&D. But countries can also boost their productivity by trading with other countries that have large "stocks of knowledge" from their cumulative R&D activities. We use a special version of MULTIMOD that incorporates R&D spillovers among industrial countries and from industrial countries to developing countries. Our simulations suggest that R&D, R&D spillovers, and trade play important roles in boosting growth in industrial and developing countries.
Keywords: Productivity, R&D, Spillovers, North-South
JEL Classification: 031, 040
Suggested Citation: Suggested Citation
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