@techreport{NBERw5628,
 title = "R&D Spillovers and Global Growth",
 author = "Tamim Bayoumi and David T. Coe and Elhanan Helpman",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "5628",
 year = "1996",
 month = "June",
 URL = "http://www.nber.org/papers/w5628",
 abstract = {We examine the growth promoting roles of R&D, international R&D spillovers, and trade in a world econometric model.  A country can raise its total factor productivity by investing in R&D.  But countries can also boost their productivity by trading with other countries that have large stocks of knowledge from their cumulative R&D activities.  We use a special version of MULTIMOD that incorporates R&D spillovers among industrial countries and from industrial countries to developing countries. Our simulations suggest that R&D, R&D spillovers, and trade play important roles in boosting growth in industrial and developing countries.},
}