Journal
JOURNAL OF PRODUCTIVITY ANALYSIS
Volume 42, Issue 2, Pages 137-155Publisher
SPRINGER
DOI: 10.1007/s11123-013-0360-0
Keywords
R&D capital stock; Multifactor productivity; Heterogeneity; Panel cointegration; Bootstrap simulations
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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-A -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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