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R&D, Human Capital and International Technology Spillovers: A Cross‐country Analysis
Author(s) -
Frantzen Dirk
Publication year - 2000
Publication title -
scandinavian journal of economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.725
H-Index - 64
eISSN - 1467-9442
pISSN - 0347-0520
DOI - 10.1111/1467-9442.00184
Subject(s) - economics , human capital , complementarity (molecular biology) , productivity , capital deepening , cross country , monetary economics , labour economics , classical economics , macroeconomics , international economics , financial capital , capital formation , economic growth , genetics , biology
This paper is based on recent developments in the theory of innovation‐driven growth that emphasize both the importance of R&D efforts — domestic as well as foreign — for explaining national productivity, and the complementarity between R&D and human capital investments. Estimates of specifications, in growth terms and in level terms, on a cross‐section of OECD countries from the early 1960s to the early 1990s lend strong support to this thesis. The data show a significant influence of both domestic and foreign R&D. Moreover, there is clearly a net positive impact of human capital. The level and growth rate of human capital are shown to affect productivity growth and there is evidence of interaction with the catch‐up process. JEL classification: O 33; O 47