This paper examines whether UK firms that locate their R&D activity in the USA benefit more than other UK firms from knowledge spillovers originating from US R&D. Patent data provides a firm-level measure of the location of innovative activity, which enables the identification of knowledge spillovers associated with "technology sourcing". Our identification strategy helps to address various pro...

Duisenberg school of finance is a collaboration of the Dutch financial sector and universities, with the ambition to support innovative research and offer top quality academic education in core areas of finance. Abstract Energy and agricultural commodities and markets have been examined extensively, albeit separately, for a number of years. In the energy literature, the returns, volatility and ...

Many economists believe knowledge production generates positive spillovers among knowledge producers. The available evidence, however, is mixed. We argue that spillovers can exist along three dimensions: idea, geographic, and collaboration space. To isolate the key channel through which knowledge spills over, we use a unique data set to examine the impact of a large post-1992 exodus of Soviet m...

This paper explores the role of imports as a mechanism of transmission of international technological spillovers and the significance of these for the growth and economic convergence of the OECD countries. For this purpose a growth model is estimated that includes amongst its determinants a measure of the stock of technological knowledge. The results reveal first that international technologica...

Using detailed micro data from the Indonesian manufacturing sector, we examine the effect on productivity of direct foreign investment. The results suggest that direct foreign investment benefits locally owned establishments. The effect differs between groups of industries. Spillovers from DFI are found in sectors with a high degree of competition. The result suggests that the degree of competi...

It is the conventional wisdom that productivity spillovers from home based to foreign owned firms occur only in the economies of developed countries. This paper argues that there are exceptions to the conventional wisdom. Given the importance of indigenous knowledge in productivity enhancement, spillovers could occur from domestically owned to foreign owned firms in developing countries. Given ...

This paper studies the interactions of fiscal and monetary policies in the presence of fiscal spillovers within a monetary union. When capital markets are integrated, the fiscal policy of any member country will influence equilibrium wages and interest rates across the whole union. Thus there are fiscal spillovers within a federation. Within a general class of monetary policy rules, there does ...

This study examines the effect of technology spillovers on firms’ cash holdings. It finds that firms facing greater technology spillovers hold higher cash balances. This effect is more pronounced among financially constrained firms and for firms that are likely to benefit more from diffused technology, e.g., those have newer patents, are more profitable, face better growth opportunities and are...

It is often argued that multinationals are reluctant to transfer technology due to the fear of spillovers. We show that this need not be the case if host country policies like taxation are taken into account. Furthermore, we examine the incentives the multinational and the host country have to engage in an international joint venture. We show why a multinational may agree to enter a joint ventu...

Few topics in international economics have been examined as extensively as technology transfer from foreign affiliates to domestic firms, and the amount of empirical research in this area is still growing at an exponential rate, with more than a score of studies published in the last two years alone. The topic is so attractive because the assumed externality associated with the transfer,”techno...