This paper aims to measure knowledge spillovers using two methods across 94 French departments. In the first part, we estimate the reduced form of the innovation-generating equation for French departments by distinguishing the effects of R&D carried out in several geographic areas (for example from 0 to 200km, from 200 to 400 km, and from more than 400); the purpose of this first method is to m...

Within the endogenous growth framework, we offer an explanation on how foreign direct investment (FDI) generates externalities in the form of technology transfer. We distinguish between the level and rate effects of spillovers on the productivity of domestic firms. A new insight gained from the theory is that the level and rate effects of spillovers can go in opposite directions. The negative l...

Theoretical models have long shown that spillovers from knowledge investments are of great economic importance to sustained economic growth and innovation and that these spillovers may be facilitated by physical and technological proximity. However, such localized spillovers have not been identified using data from developing countries. In this paper, we use a general measure of knowledge and a...

This paper examines co-movements and volatility spillovers in the returns of the euro, the British pound, the Swiss franc and the Japanese yen vis-à-vis the US dollar before and after the introduction of the euro. Based on dynamic correlations, variance decompositions, generalized VAR analysis, and a newly introduced spillover index, the results suggest significant co-movements and volatility s...

Theoretical considerations suggest that secrecy reduces spillovers almost completely through non-disclosure, while the disclosure requirement of patents generates some spillover and at the same time allows firms to appropriate knowledge. In this paper we empirically analyze whether protection by secrecy or protection by patents is associated with lower knowledge spillovers. Since the amount of ...

The impact of R&D on growth through spillovers has been a major topic of economic research over the last thirty years. A central problem in the literature is that firm performance is affected by two countervailing “spillovers”: a positive effect from technological knowledge spillovers and negative business stealing effects from product market rivals. We develop a general framework incorporating...

This paper examines the determinants of R&D cooperation focusing on the relationship between firms R&D cooperation and knowledge spillovers on a sample of Italian innovative firms drawn from the Italian Fourth Community Innovation Survey. I explore this relationships taking into account different types of R&D cooperations and the endogeneity problems which arise from the likely mutual dependenc...

This paper aims at quantifying the economic value of knowledge spillovers by exploring information contained in patent citations. We estimate a market valuation equation for semiconductor firms during the 1980s and 1990s, and find an average value in the amount of $0.6 to 1.2 million “R&D-equivalent” dollars for the knowledge spillovers as embodied in one patent citation. For an average semicon...

The importance of R&D spillovers for productivity growth has been well-documented in the literature. While studies in the context of developed countries have extensively focused on sectoral linkages, research on North-South spillovers has been largely con...ned to the aggregate level. In this paper, we pursue the objective of ascertaining the contribution of international R&D spillovers to manu...