NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Nune Hovhannisyan

Department of Economics
Loyola University Maryland
4501 N. Charles street
Baltimore, MD 21210
Tel: 410-617-2948

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NBER Working Papers and Publications

May 2011International Business Travel: An Engine of Innovation?
with Wolfgang Keller: w17100
While it is well known that managers prefer in-person meetings for negotiating deals and selling their products, face-to-face communication may be particularly important for the transfer of technology because technology is best explained and demonstrated in person. This paper studies the role of short-term cross-border labor movements for innovation by estimating the recent impact of U.S. business travel to foreign countries on their patenting rates. Business travel is shown to have a signi...cant e¤ect up and beyond technology transfer through the channels of international trade and foreign direct investment. On average, a 10% increase in business travel leads to an increase in patenting by about 0.2%, and inward business travel is about one fourth as potent for innovation as domestic R&D...

Published: Nune Hovhannisyan & Wolfgang Keller, 2015. "International business travel: an engine of innovation?," Journal of Economic Growth, vol 20(1), pages 75-104. citation courtesy of

 
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