|
|
RD |
|
| Total R & D expenditure |
Corporate self-raised R & D funds |
|
| RDt−1 |
0.218** |
0.261*** |
|
|
(0.107) |
(0.0916) |
| GOV |
2.026*** |
0.711 |
|
|
(0.493) |
(0.629) |
| INST |
−0.520*** |
-0.519*** |
|
|
(0.123) |
(0.0895) |
| HED |
1.957*** |
2.206*** |
|
|
(0.644) |
(0.450) |
| IPR |
0.830** |
0.708** |
|
|
(0.410) |
(0.349) |
| K |
0.0991*** |
0.0899*** |
|
|
(0.0242) |
(0.0197) |
| FDI |
0.756*** |
0.761** |
|
|
(0.226) |
(0.310) |
| OTHER |
5.710*** |
4.454*** |
|
|
(0.869) |
(0.692) |
| REVENUE |
0.255*** |
0.262*** |
|
|
(0.0131) |
(0.0140) |
| Constant |
−391,297*** |
−395,553*** |
|
|
(85,402) |
(83,023) |
| AR (1) |
0.0651 |
0.0907 |
| AR (2) |
0.2814 |
0.3996 |
| Sargan test |
0.1190 |
0.1001 |