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| Sheng-Pin Hsueh and Wei-Ming Lee |
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| ''A revisit to the relationship between patents and R&D using empirical likelihood estimation'' |
| ( 2012, Vol. 32 No.2 ) |
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| 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. |
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| Keywords: patent, R&D, panel count data, empirical likelihood |
JEL: C2 - Single Equation Models; Single Variables: General
O3 - Technological Change; Research and Development: General |
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| Manuscript Received : Jan 21 2012 | | Manuscript Accepted : Apr 17 2012 |
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