R&D elasticity in Brazilian industry and spillovers: a common unobserved factors approach
DOI:
https://doi.org/10.11606/1980-5330/ea190655Keywords:
R&D elasticity, unobserved common factors, knowledge spillovers, total factor productivityAbstract
This paper presents estimates for the elasticity of R&D in the Brazilian industry, by data from industrial groups in the extractive and manufacturing industries in Brazil in 2003-2017. We employ augmented mean group estimator (AMG) of Eberhardt and Bond (2009), which controls for the presence of correlated and potentially non-stationary common factors. The estimate produced by the AMG estimator for R&D elasticity was 0.014, but not statistically significant. Measures of total factor productivity (TFP) were calculated for the groups of sectors according to the technological intensity, which show a pro-cyclical behavior and a positive correlation with technological intensity.
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