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Two stages of R&D spillovers : Technological and economic impacts

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  • Two stages of R&D spillovers
  • Cho, Kawon
  • Science and Technology Policy Institute


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Title Two stages of R&D spillovers
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Sub Title

Technological and economic impacts

Material Type Articles
Author(English)

Cho, Kawon

Publisher

Seoul:Science and Technology Policy Institute

Date 2010-09
Journal Title; Vol./Issue STI Policy Review:vol.1(no.3)
Pages 16
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Industry and Technology < Science/Technology
Holding Science and Technology Policy Institute

Abstract

This paper empirically evaluates the effects of regional and industrial R&D on the performances
of individual firms in two separated stages: (1) the stage of technological outcome
from R&D and (2) the stage of economic outcome from technological outcome. Technological
spillovers are separated from negative congestion effects through the stage-specific estimation.
The firm-level Korean Innovation Survey data merit in coping with the endogeneity
problem inherent in the estimation of spillovers. The estimation results show that: (1) there
exist significant R&D spillovers both in regional and industrial dimensions, (2) the hypothesized
technological spillovers and economic congestion effects are both in effect, and (3)
firms with smaller individual R&D investments show greater spillovers.

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