Relating the Knowledge Production Function to Total Factor Productivity: An Endogenous Growth Puzzle
The knowledge production function is central to research and development-based growth models. This paper empirically investigates the knowledge production function and intertemporal spillover effects using cointegration techniques. Timeseries evidence suggests there are two long-run cointegrating re...
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| Veröffentlicht in: | IMF staff papers 2006-01, Vol.53 (2), p.242-271 |
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| creator | Abdih, Yasser Joutz, Frederick |
| description | The knowledge production function is central to research and development-based growth models. This paper empirically investigates the knowledge production function and intertemporal spillover effects using cointegration techniques. Timeseries evidence suggests there are two long-run cointegrating relationships. The first captures a long-run knowledge production function; the second captures a long-run positive relationship between total factor productivity (TFP) and the knowledge stock. The results indicate that strong intertemporal knowledge spillovers are present and that the long-run impact of the knowledge stock on TFP is small. This evidence is interpreted in light of existing theoretical and empirical evidence on endogenous growth. |
| doi_str_mv | 10.2307/30036013 |
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| subjects | Coefficients Cointegration analysis Economic growth models Empirical research Endogenous growth Engineering Finance Financial services industry Growth models Information production Knowledge Knowledge management Laws, regulations and rules Patent applications Production functions Productivity R&D Research & development Research and development Studies Technological innovation Time series Vector autoregression |
| title | Relating the Knowledge Production Function to Total Factor Productivity: An Endogenous Growth Puzzle |
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