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2017 | OriginalPaper | Buchkapitel

Knowledge Spillovers Through FDI and Trade: The Moderating Role of Quality-Adjusted Human Capital

verfasst von : Muhammad Ali, Uwe Cantner, Ipsita Roy

Erschienen in: Foundations of Economic Change

Verlag: Springer International Publishing

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Abstract

The paper extends the findings of the Coe and Helpman (Eur Econ Rev 39(5):859–887, 1995) model of R&D spillovers by considering foreign direct investment (FDI) as a channel for knowledge spillovers in addition to imports. Deeper insights on the issue are provided by examining the inter-relationship between knowledge spillovers from imports and inward FDI. Furthermore, human capital is added to the discussion as one of the appropriability factors for knowledge spillovers, with special focus on its quality-content, using journal publications and patent applications. Applying cointegration estimation method on 20 European countries from 1995 to 2010, the direct effects of FDI-related as well as import-related spillovers on domestic productivity are confirmed. Furthermore, a strong complementary relationship is found between knowledge spillovers through the channels of imports and inward FDI. When considering quality-adjusted human capital, countries with better human capital are found to benefit not only from direct productivity effects, but also from absorption and transmission of international knowledge spillovers through imports and inward FDI. Finally, technological distance with the frontier does not appear to play a role in the absorption of import and FDI related knowledge spillovers.

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Vorheriges Kapitel Entrepreneurs’ Over-optimism During the Early Life Course of the Firm

Nächstes Kapitel Export, R&D and New Products: A Model and a Test on European Industries

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Our definition of knowledge spillovers in this paper includes both voluntary knowledge transfers and involuntary knowledge spillovers.

Please see Table 4 in the Appendix for an overview on pros and cons of using the different proxies for quality adjustment of human capital.

ISIC Rev.2 Technology Intensity (See Table 5 in the Appendix).

Detailed results of cointegration tests are provided in Table 8 in the Appendix.

Since our sample period includes the financial crisis in 2008–2009, an additional set of estimations was performed with a dummy for financial crisis (year 2008 and 2009). Even though the dummy was highly significant and negative, our findings were robust to its inclusion. Results are available from the authors on request.

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Titel: Knowledge Spillovers Through FDI and Trade: The Moderating Role of Quality-Adjusted Human Capital
verfasst von: Muhammad Ali
Uwe Cantner
Ipsita Roy
Verlag: Springer International Publishing
Buch: Foundations of Economic Change
Print ISBN: 978-3-319-62008-4

Electronic ISBN: 978-3-319-62009-1

Copyright-Jahr: 2017
DOI: https://doi.org/10.1007/978-3-319-62009-1_16

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