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INTERNATIONAL R&D SPILLOVERS AND OECD ECONOMIC GROWTH
Author(s) -
PARK WALTER G.
Publication year - 1995
Publication title -
economic inquiry
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.823
H-Index - 72
eISSN - 1465-7295
pISSN - 0095-2583
DOI - 10.1111/j.1465-7295.1995.tb01882.x
Subject(s) - economics , spillover effect , productivity , foreign direct investment , government (linguistics) , panel data , private sector , investment (military) , international economics , macroeconomics , international trade , public economics , economic growth , political science , econometrics , linguistics , philosophy , politics , law
This paper quantifies the cross‐national spillover effects of government and private investment in research and development (ROD), using a panel data set of ten OECD countries. The results show that domestic private research is a significant determinant of both domestic and foreign productivity growth, and that foreign government research stimulates domestic private research. These findings are significant in that they provide empirical support for arguments in favor of international economic policy coordination, particularly in the area of international science and technology.