Authors:Levente Szász, Béla Gergely Rácz, Anca Borza, and Botond Benedek
Damijan , J. P. – Knell , M. – Majcen , B. – Rojec , M. ( 2003 ): The Role of FDI, R&D Accumulation and Trade in Transferring Technology to Transition Countries: Evidence from Firm PanelData for Eight Transition Countries . Economic Systems
. - Szanyi, M. (2009): The Concentric-Circle Model of FDI Spillover Effects: Estimation Using Hungarian PanelData. IER Discussion Paper A521, Institute of Economic Research, Hitotsubashi University.
, generally relying on paneldata, but ending before 2014 (the corresponding results of several other papers are summarised in Table 1 – online ). As shown by the lower panel, the pattern reflecting the relationship between price levels and relative incomes
-country or paneldata and made use of GDP as the dependent variable. The selection of variables for this study took these empirical studies into consideration; however, our final model is based on the objectives of this study and the availability of data. We
.05, *significance at 0.1 level. The paneldata analysis included fixed effects, which remove the effects of time-invariant characteristics of economies. The functional form of the model for panel economy-wide data is given as follows: (5) ln λ i = α + β ′ x i t
data of this study are obtained from the COMPUSTAT database and the patent data of this study are gathered from United States Patent and Trademark Office (USPTO). There are 90 American pharmaceutical companies in the sample. The paneldata in this study