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On the robustness of R&D |
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| Authors: | Kul B Luintel Mosahid Khan Konstantinos Theodoridis |
| Institution: | 1. Cardiff Business School, Cardiff, UK 2. World Intellectual Property Organization (WIPO), Geneva, Switzerland 3. Bank of England, London, UK |
| Abstract: | Alternative models of productivity predict a range of its determinants besides that of research and development (R&D). We investigate the robustness of R&D vis-à-vis a dozen productivity determinants in a panel of 16 Organisation for Economic Co-operation and Development countries through panel cointegration, bootstrap simulations and extensive sensitivity tests. Domestic knowledge stocks, international knowledge diffusion and human capital remain robust across all measures. The cross-country differences in accumulated knowledge stocks and human capital appear to explain productivity differences across countries. |
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