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- W1540181544 abstract "In this Paper, we estimate the dynamic relationship between resources used in R&D by some OECD countries and their innovation output as measured by patent applications. We first estimate a long-run cointegration relation using recently developed tests and panel estimation techniques. We find that the stock of knowledge of a country, it's R&D resources and the stock of international knowledge move together in the long-run. Then, imposing this long-run relation across variables we analyze the impulse response of new ideas to a shock to R&D or to a shock to innovation by estimating an error correction mechanism. We find that internationally generated ideas have a very significant impact in helping innovation in a country. As a consequence, a positive shock to innovation in a large country as the US has, both in the short- and in the long-run, a significant positive effect on the innovation of all other countries." @default.
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- W1540181544 date "2003-01-01" @default.
- W1540181544 modified "2023-09-28" @default.
- W1540181544 title "The Dynamics of R&D and Innovation in the Short Run and in the Long Run" @default.
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