Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/149342
Authors: 
Ogawa, Kazuo
Sterken, Elmer
Tokutsu, Ichiro
Year of Publication: 
2016
Series/Report no.: 
CESifo Working Paper 6255
Abstract: 
We analyze the impact of international R&D spillovers on recipient countries in terms of social and private returns. We divide the aggregate R&D stock by the business, government and education sectors and examine the impact on Total Factor Productivity. We endogenize the accrual of the R&D stocks by estimating an R&D investment function. We find that the marginal social returns on R&D are much larger than the marginal private returns for R&D-intensive countries. It implies that R&D intensive countries are expected to generate more spillovers at the margin, but the observed R&D stock is smaller than the socially optimal level.
Subjects: 
R&D
spillovers
total factor productivity
social returns
private returns
JEL: 
E22
O32
O33
O47
Document Type: 
Working Paper

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