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Sheng-Pin Hsueh and Wei-Ming Lee
 
''A revisit to the relationship between patents and R&D using empirical likelihood estimation''
( 2012, Vol. 32 No.2 )
 
 
In this paper we reexamine the relationship between patents and R&D using empirical likelihood estimation. Based on the data of Hall, Griliches, and Hausman (1986) and the specification allowing for endogenous regressors, we found that the contemporaneous effect of R&D is significantly positive, yet the first-lag effect is significantly negative. Moreover, the total effect of R&D is much larger than those found in the early studies.
 
 
Keywords: patent, R&D, panel count data, empirical likelihood
JEL: C2 - Single Equation Models; Single Variables: General
O3 - Technological Change; Research and Development: General
 
Manuscript Received : Jan 21 2012 Manuscript Accepted : Apr 17 2012

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