Patents, R&D and lag effects: evidence from flexible methods for count panel data on manufacturing firms

Gurmu, Shiferaw; Pérez-Sebastián, Fidel

Abstract

This paper investigates the relationship between patents and research and development expenditures using new longitudinal patent data at the firm level for the U.S. manufacturing sector from 1982 to 1992. The paper also develops a new class of count panel data models based on series expansion of the distribution of individual effects. Estimation results from various distributed lag and dynamic multiplicative panel count data models show that the contemporaneous relationship between patenting and R&D expenditures continues to be strong, accounting for over 60% of the total R&D elasticity. The lag effects are higher than have previously been found for the 1970s data.

Citation

Gurmu, S., & Pérez-Sebastián, F. (2008). Patents, R&D and lag effects: evidence from flexible methods for count panel data on manufacturing firms. Empirical economics, 35(3), 507-526. https://doi.org/10.1007/s00181-007-0176-8

• Journal Article Type: Article
• Online Publication Date: Jan 3, 2008
• Publication Date: 2008-11
• Deposit Date: Nov 13, 2014
• Journal: Empirical Economics
• Print ISSN: 0377-7332
• Publisher: Springer Verlag
• Peer Reviewed: Peer Reviewed
• Volume: 35
• Issue: 3
• Pages: 507-526
• DOI: https://doi.org/10.1007/s00181-007-0176-8
• Keywords: Economics and Econometrics; Statistics and Probability; Social Sciences (miscellaneous); Mathematics (miscellaneous)
• Public URL: https://hull-repository.worktribe.com/output/469575
• Publisher URL: https://link.springer.com/article/10.1007%2Fs00181-007-0176-8
• Contract Date: Nov 13, 2014