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| Author: | Wenxiong Yao, V. |
| Title: | Intra-industry spillovers and innovation: an econometric analysis at the firm level |
| Journal: | Economics of innovation and new technology
2006 : MAR, VOL. 15:2, p. 119-135 |
| Index terms: | econometrics innovation R&D costs |
| Language: | eng |
| Abstract: | This article discusses spillover effects of innovation at the firm level and the comparability of generalized method of moments (GMM) estimators with maximum likelihood estimators of the earlier studies. Two sources of spillovers are identified, i.e. intra-industry R&D expenditure and intra-industry output. Because of the substitution effect of intra-industry R&D spillovers, the elasticity of patent with respect to firm's own R&D expenditure is greater than those estimated in the earlier studies. |
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