A micro-econometric analysis of the role of R&D spillovers using a nonlinear translog specification |
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Authors: | Paola Cardamone |
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Institution: | (1) Department of Economics and Statistics, University of Calabria, 87036 Rende (CS), Italy |
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Abstract: | This paper assesses the impact of Research and Development (R&D) spillovers on production for a panel of 1,203 Italian manufacturing
firms over the period 1998–2003.The estimations are based on a nonlinear translog production function augmented by a measure
of R&D spillovers which combines the geographical distance between firms, the technological similarity within each pair of
firms and the technical efficiency of each firm. The estimation method takes into account the endogeneity of regressors and
the potential sample selection issue regarding the decision by firms to invest in R&D. Results show that the translog production
function is more suitable than the Cobb-Douglas for modelling firm behaviour and that returns to scale are increasing. Moreover,
the internal and external stocks of technology exert a significant impact on firms’ production. Finally, it emerges that,
for Italian manufacturing firms, R&D capital and R&D spillovers are highly substitutes. |
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