We examine the effects of R&D spillovers on total factor productivity in a comprehensive panel of Japanese manufacturing plants matched with R&D survey data, 1987-2007. We simultaneously examine the role of public (university) and private R&D spillovers, while focusing on differential effects due to technological, geographic and relational (buyer-supplier and capital) proximity. We find positive effects of technologically and geographically proximate private R&D and technologically related public R&D stock. Especially, the effects of public R&D spillovers are more salient for a plant of which parent firm is more R&D intensive. We also find evidence of positive R&D spillovers from supplier’s and customers’ R&D which is enhanced by capital relationships.
