The technological capital as production factor in Spanish regions, 1980-2000
In this work we construct a database of regional technological capital,
with the maximun disaggregation compatible with Official Regional Accounts
of Spain. In addition, we analyze the goodness of these series and their performance
in the estimation of regional aggregate production functions. In the estimations
both own technological capital and external capital are included. The results
show reasonable estimated values of the output elasticities, which imply rates of
return to technological capital much higher that to other types of capital.
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