Erschienen in:CESifo Working Paper Series ; No. 6255
Umfang:
1 Online-Ressource (45 p)
Sprache:
Englisch
DOI:
10.2139/ssrn.2909608
Identifikator:
Entstehung:
Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments December 20, 2016 erstellt
Beschreibung:
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