研究成果の公開

関西外国語大学の小川さん，オランダ・フローニンゲン大学のシュテルケンさんとの共同論文が学術雑誌に掲載されました。

Title: International Spillovers of R&D and Marginal Social Return
Authors: Kazuo Ogawa, Elmer Sterken, Ichiro Tokutsu
Journal: Review of International Economics
Abstract: This study analyzes marginal social and private returns of R&D investment through the impact of international spillovers of R&D stocks. We compare the marginal social with marginal private returns using data of 27 OECD and EU countries from 1995 to 2008. We consider two channels of R&D spillovers: embodied in trade flows and disembodied by bilateral technological proximity. We find that marginal social returns on R&D are much larger than the marginal private returns for R&D‐intensive countries, in the embodied spillover channel. We also find that the embodied spillover channel through import flows is more important than the disembodied channel.