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R&D expenditure in G7 countries and the implications for endogenous fluctuations and growth

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  • Walde, Klaus
  • Woitek, Ulrich

Abstract

The literature on endogenous growth cycles predicts countercyclical R&D expenditure. Aggregate R&D expenditure in G7 countries from 1973 to 1997 seems to be procyclical. Implications for future theoretical research are discussed.
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  • Walde, Klaus & Woitek, Ulrich, 2004. "R&D expenditure in G7 countries and the implications for endogenous fluctuations and growth," Economics Letters, Elsevier, vol. 82(1), pages 91-97, January.
    • Handle: RePEc:eee:ecolet:v:82:y:2004:i:1:p:91-97
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    More about this item

    JEL classification:

    • C2 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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