We investigate how the country’s absorptive capacity and relative backwardness affect the impact of international R&D spillovers on domestic Total Factor Productivity (TFP). To account for nonlinearities, we adopt a Panel Smooth Transition Regression (PSTR) approach, where the country’s elasticity of TFP to foreign R&D stock is allowed to change smoothly across various identified extreme values, and this change is related to observable transition variables: human capital (capturing the country’s absorptive capacity) and relative backwardness. The results suggest that absorptive capacity is positively associated with international R&D spillovers. In addition, and in contrast with previous results, relative backwardness has a negative and significant impact on them.
Titolo: | International R&D spillovers, absorptive capacity and relative backwardness: a panel smooth transition regression model |
Autori: | Fracasso, Andrea; Vittucci Marzetti, Giuseppe |
Autori Unitn: | |
Luogo di edizione: | Trento |
Casa editrice: | Università di Trento. Dipartimento di Economia |
Anno di pubblicazione: | 2012 |
Handle: | http://hdl.handle.net/11572/90732 |
Appare nelle tipologie: | 07.2 Altre pubblicazioni (Other types of publications) |