The objective of this paper is to further investigate the findings obtained by Capron and Cincera (1998) as regards the effects of both national and international stocks of R&D spillovers on firms productivity growth. The analysis is based on the same data set as Capron and Cincera (1998) which consists of a representative sample composed of 625 worldwide R&D-intensive manufacturing firms over the period 1987-1994. Additional results based on the recent System Generalised Method of Moments (GMM) estimator proposed by Arellano and Bover (1995) are presented. The empirical findings indicate that spillover effects significantly influence firm’s productivity. In particular, results based on the system GMM estimator shows that the United States are mainly sensitive to their national spillover’s stock while Japan and Europe appear to mainly draw from the international stock.
DOMESTIC VERSUS INTERNATIONAL R&D SPILLOVERS AND PRODUCTIVITY PERFORMANCE OF LARGE INTERNATIONAL FIRMS
ALDIERI, Luigi;
2004-01-01
Abstract
The objective of this paper is to further investigate the findings obtained by Capron and Cincera (1998) as regards the effects of both national and international stocks of R&D spillovers on firms productivity growth. The analysis is based on the same data set as Capron and Cincera (1998) which consists of a representative sample composed of 625 worldwide R&D-intensive manufacturing firms over the period 1987-1994. Additional results based on the recent System Generalised Method of Moments (GMM) estimator proposed by Arellano and Bover (1995) are presented. The empirical findings indicate that spillover effects significantly influence firm’s productivity. In particular, results based on the system GMM estimator shows that the United States are mainly sensitive to their national spillover’s stock while Japan and Europe appear to mainly draw from the international stock.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
