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文章基本信息

  • 标题:Output Convergence and the Role of Research and Development
  • 本地全文:下载
  • 作者:Mohammad Ashraf ; Khan A. Mohabbat
  • 期刊名称:Annals of Economics and Finance
  • 电子版ISSN:1529-7373
  • 出版年度:2010
  • 卷号:11
  • 期号:01
  • 出版社:Peking University Press
  • 摘要:

    We ask whether failure to control for research and development (R&D)
    activity in an output convergence regression affects the coefficient estimates of initial output. We focus on output convergence to an economy’s own steady-state growth path using time series regression framework and convergence across economies using panel estimation. We use data for the 30 member countries of the Organization for Economic Co-operation and Development (OECD) and US state-level real per capita output and per capita patents. The results indicate that after controlling for R&D activity the coefficient estimates increase in magnitude (in absolute terms) and in significance levels. Furthermore, the results are not sensitive to the dataset used or the estimation procedure.

  • 关键词:Output convergence; R&D; Omitted variable bias; Panel estimation; Panel unit root tests
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