Income Convergence and R&D Intensity in OECD Manufacturing Industries: A Panel Study

Vasilakos, Nicholas and Zubanov, N (2009) Income Convergence and R&D Intensity in OECD Manufacturing Industries: A Panel Study.

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Abstract

This paper evaluates the impact of R&D investment on income convergence for a cross section of manufacturing industries in 12 OECD countries over the time period 1987-1999. We apply dynamic panel estimation techniques to obtain a speed of convergence which, when conditioned to R&D expenditure, is significantly greater than the conventional 2%. In particular, the inclusion of the R&D variable results to a speed of convergence of 7-9% per year, suggesting that convergence is faster between equally technologically advanced industries. A further implication from our results is that differences in the industry mix can be important in explaining the speed of income convergence between countries.

Item Type: Article
Faculty \ School: Faculty of Social Sciences > Norwich Business School
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Depositing User: LivePure Connector
Date Deposited: 24 Jun 2019 14:30
Last Modified: 30 Jul 2020 23:56
URI: https://ueaeprints.uea.ac.uk/id/eprint/71533
DOI:

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