This paper examines the issue of volatility spillovers across the three largest European stock markets, namely London, Frankfurt and Paris. The Exponential Generalized Autoregressive Conditional Heteroscedasticity model is used to capture potential asymmetric effects of innovations on volatility. During the period from 01/01/84 to 07/12/93, reciprocal spillovers are found to exist between Londo...

In this paper we analyse productivity spillovers from foreign direct investment using firm level panel data UK manufacturing industries from 1992 to 1999. We investigate spillovers through horizontal, backward and forward linkages, distinguish spillovers from export oriented vs domestic market oriented FDI, and allow for differing effects depending on domestic firms’ export activities. The resu...

a r t i c l e i n f o JEL classifications: L26 O14 O16 O31 O33 O34 Keywords: Knowledge spillovers R&D intensity Entrepreneurship Intellectual property rights Copyright Legal formalism Knowledge spillovers are widely thought to be important for innovative activity, yet theory is ambiguous about the sign of the relationship. Assuming that knowledge spillovers are more easily exploited where intel...

For many real-world markets (such as media, telecommunications, high tech markets, commercial aircrafts, etc.), incurring endogenous sunk costs (in the form of quality enhancing expenditures), in the presence of R&D spillovers, is an essential feature of competition. We study the interaction between these sunk costs and R&D spillovers relying on the Sutton’s concept of endogenous sunk costs and...

Purpose – After identifying two kinds of internal knowledge transfer strategies, the purpose of this paper is to examine their effectiveness and whether they induce knowledge spillovers among firms. Design/methodology/approach – This study collected data in China and 219 questionnaires were achieved. Then, structure equation model by LISREL was used for hypotheses testing. Findings – The empiri...

This is the first national study of fiscal spillovers between local governments and the first to examine whether fiscal spillovers vary based on the form of democracy used to determine tax rates. There is an extensive theoretical literature concerning fiscal spillovers between local governments, but it is challenging to empirically distinguish spillovers from common underlying trends. Using a n...

1 2 3 4 abStRaCt. – While there is widespread agreement among economists and management scholars that knowledge spillovers exist and have important economic consequences, researchers know substantially less about the “micro mechanisms” of spillovers – about the degree to which they are geographically localized, for example, or about the degree to which spillovers from public institutions are qu...

In this paper we aim at studying to what extent spillovers between firms may foster economic growth. The attention is addressed to the spillovers connected with the R&D activity that improves the quality of the goods firms supply. Our model develops a growth theory framework and we assume that firms spread around a circle. Our study assesses that spillovers between neighbors affect the probabil...

Many host country governments assume that inward Foreign Direct Investment (FDI) can bestow large benefits to the economy, bringing not only new investment that boosts national income but also an inflow of new foreign knowledge and technology. The purpose of this chapter is to review the evidence of the importance of these productivity spillovers from inward FDI. It finds that the international...

Quick and reliable estimation of traffic conditions is of critical importance for advanced traffic management systems, especially when heavy congestion occurs. This paper proposes a methodology to predict queue spillovers in city street networks with signalized intersections using data from loop detectors (counts and occupancy). The key idea of the developed methodology is that when spillovers ...