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DP1467
R&D Spillovers and Global Growth
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Publication Date:
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August 1996
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Link to this Page:
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www.cepr.org/pubs/dps/DP1467.asp
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We examine the growth promoting roles of R&D, international R&D spillovers, and trade in a world econometric model. A country can raise its total factor productivity by investing in R&D. Countries can also boost their productivity by trading with other countries that have large ‘stocks of knowledge’ from their cumulative R&D activities. We use a special version of MULTIMOD that incorporates R&D spillovers among industrial countries and from industrial countries to developing countries. Our simulations suggest that R&D, R&D spillovers, and trade play important roles in boosting growth in industrial and developing countries.
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