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Title:How robust is the R&D-productivity relationship? Evidence from OECD countries PDF Logo
Authors:Luintel, Kul B.
Khan, Mosahid
Theodoridis, Konstantinos
Issue Date:2010
Series/Report no.:Cardiff Economics Working Papers E2010/7
Abstract:We examine the robustness of R&D and productivity relationship in a panel of 16 OECD countries. We control for fifteen productivity determinants predicted by different theoretical models. Following the advances in non-stationary panel data econometrics, we estimate four variants of thirteen specifications. All models appear co-integrated. Results are rigorously scrutinized through extensive bootstrap simulations and sensitivity checks. R&D and human capital emerge robust in all specifications making them universal drivers of productivity across nations. Most other determinants are also significant. Productivity relationships are heterogonous across countries depending on their accumulated stocks of knowledge and human capital.
Subjects:R&D Capital Stocks
Multifactor Productivity
Heterogeneity
Panel Cointegration
Bootstrap Simulations
JEL:F12
F2
O3
O4
C15
Document Type:Working Paper
Appears in Collections:Cardiff Economics Working Papers

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