02043cas a2200265 a 4500 AALejournalIMF005057 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451869651 1018-5941 BD-DhAAL BD-DhAAL Hoffmaister, Willy. International R and D Spillovers and Institutions / Willy Hoffmaister, David Coe, Elhanan Helpman. Washington, D.C. : International Monetary Fund, 2008. 1 online resource (35 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The empirical analysis in "International R and D Spillovers" (Coe and Helpman, 1995) is first revisited by applying modern panel cointegration estimation techniques to an expanded data set that we have constructed for the purpose of this study. The new estimates confirm the key results reported in Coe and Helpman about the impact of domestic and foreign R and D capital stocks on TFP. In addition, we show that domestic and foreign R and D capital stocks have measurable impacts on TFP even after controlling for the impact of human capital. Furthermore, we extend the analysis to include institutional variables, such as legal origin and patent protection, in order to allow for parameter heterogeneity based on a country's institutional characteristics. The results suggest that institutional differences are important determinants of total factor productivity and that they impact the degree of R and D spillovers. Mode of access: Internet Coe, David. Helpman, Elhanan. IMF Working Papers; Working Paper ; No. 2008/104 Full text available on IMF http://elibrary.imf.org/view/journals/001/2008/104/001.2008.issue-104-en.xml IMF e-Library