Maximum-likelihood estimation of fractional cointegration with an application to U.S. and Canadian bond rates

Article Abstract:

The significance of testing jointly the orders of integration of the parent series and the cointegrating vector was established in relation to attaining a true test for a reduction in order brought by cointegration. Empirical illustration of bond rates of US and Canada showed that more than 50% of the standard error on the estimated reduction in the order of integration due to cointegration can be attributed to uncertainty related to the order of integration of the parent series. Such result makes invalidation of the null hypothesis of no cointegration unjustifiable.

Economics, Research and Development in the Social Sciences and Humanities, Statistics, Credit market, Credit markets, Statistics (Mathematics), Autoregression (Statistics)

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Academic research underlying industrial innovations: sources, characteristics and financing

Article Abstract:

The sources, characteristics and financing of academic research for technological innovation are examined via data from 66 business enterprises representing seven key manufacturing industries and from more than 200 academic researchers. Results show that the university faculty's competence, the amount of money spent on R and D and the number of industrial entities within the vicinity play a major role in the extent to which industry credits universities with the innovation.

Commercial physical research, Research & Development-Industry, Industrial research, Technological innovations, Business and education, Industry and education

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Intellectual property protection and U.S. foreign direct investment

Article Abstract:

An empirical study on almost 100 US firms evaluated their views on the degree of strength of developing nations' system of intellectual property protection, and the type and amount of US foreign direct investment in those countries. Results indicate that a developing nation's intellectual property protection system influences the constitution and amount of US foreign direct investment.

Economic aspects, Intellectual property, Intellectual property (International law)

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