Home » Relating the Knowledge Production Function to Total Factor Productivity: An Endogenous Growth Puzzle by Yasser Abdih
Relating the Knowledge Production Function to Total Factor Productivity: An Endogenous Growth Puzzle Yasser Abdih

Relating the Knowledge Production Function to Total Factor Productivity: An Endogenous Growth Puzzle

Yasser Abdih

Published May 9th 2014
ISBN : 9781283518529
ebook
41 pages
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 About the Book 

The knowledge production function is central to R&D-based growth models. This paper empirically investigates the knowledge production function and intertemporal spillover effects using cointegration techniques. Time-series evidence suggests thereMoreThe knowledge production function is central to R&D-based growth models. This paper empirically investigates the knowledge production function and intertemporal spillover effects using cointegration techniques. Time-series evidence suggests there are two long-run cointegrating relationships. The first captures a long-run knowledge production function- the second captures a long-run positive relationship between TFP and the knowledge stock. The results indicate the presence of strong intertemporal knowledge spillovers and that the long-run impact of the knowledge stock on TFP is small. This evidence is interpreted in light of existing theoretical and empirical evidence on endogenous growth.