Research Productivity and Economic Growth: A Policy Lesson Learnt from Across the Globe
Author(s):
Article Type:
Research/Original Article (دارای رتبه معتبر)
Abstract:
The relationship between research productivity and economic growth is the subject of information science which deals in this study to examine the impact of number of publications, research & development (R&D) expenditures and researchers involved in R&D activities on economic growth in the Worlds largest regions for the period of 19802011. The study further expanded the research-growth nexus in the context of top twenty nations in terms of research output for the field of science and social sciences. The results confirmed the long-run relationship between research output and economic growth; while there is bidirectional causality between real economic growth and number of publication, in United States, Italy, Spain, Australia, India, Netherlands, Brazil, Switzerland, Taiwan, and Poland. Similarly, there is two-way causal relationship between real economic growth and R&D expenditures in USA, China, UK, Japan, India, Switzerland, Taiwan, Sweden, and Turkey. Finally, there is evident of feedback hypothesis between real economic growth and researchers involved in R&D activities in the USA, UK, Japan, South Korea, and Taiwan. The direction of causality is crucial because it has significantly policy implications for economic development.
Keywords:
Language:
English
Published:
Iranian Economic Review, Volume:22 Issue: 52, Summer 2018
Pages:
627 to 641
magiran.com/p1844803
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