Not Available for Download

Technological Capital and Technical Progress in the G5 Countries

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

Posted: 22 May 2012  

Patricio Perez

University of Cantabria - Department of Economics

Marta Bengoa-Calvo

Colin Powell School for Civic and Global Leadership and City University of New York

Adolfo C. Fernández

University of Cantabria

Date Written: November 1, 2011

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

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: https://ssrn.com/abstract=2064953

Patricio Perez (Contact Author)

University of Cantabria - Department of Economics ( email )

Santander 39005
Spain

Marta Bengoa-Calvo

Colin Powell School for Civic and Global Leadership and City University of New York ( 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

Paper statistics

Abstract Views
561