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Understanding the Efficiency of R&D Investments from the Aggregate Production Functions Perspective

Author

Listed:
  • Goschin Zizi

    (Academy of Economic Studies, Bucharest)

  • Danciu Aniela-Raluca

    (Academy of Economic Studies, Bucharest)

Abstract

The rapid growth in the last decades of the investments in research and development have generated an increased interest for assessing their contribution to economic growth. Researchers have tried to model the economic growth including also the technical progress – based on R&D expenditures- as an exogenous or endogenous factor in the aggregate production functions.

Suggested Citation

  • Goschin Zizi & Danciu Aniela-Raluca, 2011. "Understanding the Efficiency of R&D Investments from the Aggregate Production Functions Perspective," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 846-849, May.
    • Handle: RePEc:ovi:oviste:v:11:y:2011:i:1:p:846-849
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    More about this item

    Keywords

    investment; technical progress; R&D; exogenous factors; Cobb-Douglas production function;
    All these keywords.

    JEL classification:

    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models

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