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Productivity in Physical and Chemical Science Predicts the Future Economic Growth of Developing Countries Better than Other Popular Indices

Author

Listed:
  • Klaus Jaffe
  • Mario Caicedo
  • Marcos Manzanares
  • Mario Gil
  • Alfredo Rios
  • Astrid Florez
  • Claudia Montoreano
  • Vicente Davila

Abstract

Scientific productivity of middle income countries correlates stronger with present and future wealth than indices reflecting its financial, social, economic or technological sophistication. We identify the contribution of the relative productivity of different scientific disciplines in predicting the future economic growth of a nation. Results show that rich and poor countries differ in the relative proportion of their scientific output in the different disciplines: countries with higher relative productivity in basic sciences such as physics and chemistry had the highest economic growth in the following five years compared to countries with a higher relative productivity in applied sciences such as medicine and pharmacy. Results suggest that the economies of middle income countries that focus their academic efforts in selected areas of applied knowledge grow slower than countries which invest in general basic sciences.

Suggested Citation

  • Klaus Jaffe & Mario Caicedo & Marcos Manzanares & Mario Gil & Alfredo Rios & Astrid Florez & Claudia Montoreano & Vicente Davila, 2013. "Productivity in Physical and Chemical Science Predicts the Future Economic Growth of Developing Countries Better than Other Popular Indices," PLOS ONE, Public Library of Science, vol. 8(6), pages 1-10, June.
    • Handle: RePEc:plo:pone00:0066239
    DOI: 10.1371/journal.pone.0066239
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    References listed on IDEAS

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    Cited by:

    1. Klaus Jaffe, 2015. "Agent based simulations visualize Adam Smith's invisible hand by solving Friedrich Hayek's Economic Calculus," Papers 1509.04264, arXiv.org, revised Nov 2015.
    2. Mauricio Alviar & Andrés García-Suaza & Laura Ramírez-Gómez & Simón Villegas-Velásquez, 2021. "Measuring the Contribution of the Bioeconomy: The Case of Colombia and Antioquia," Sustainability, MDPI, vol. 13(4), pages 1-26, February.
    3. Hyeonchae Yang & Woo-Sung Jung, 2015. "A strategic management approach for Korean public research institutes based on bibliometric investigation," Quality & Quantity: International Journal of Methodology, Springer, vol. 49(4), pages 1437-1464, July.
    4. Kilian Buehling & Matthias Geissler & Dorothea Strecker, 2022. "Free access to scientific literature and its influence on the publishing activity in developing countries: The effect of Sci‐Hub in the field of mathematics," Journal of the Association for Information Science & Technology, Association for Information Science & Technology, vol. 73(9), pages 1336-1355, September.
    5. Klaus Jaffe & Enrique ter Horst & Laura H Gunn & Juan Diego Zambrano & German Molina, 2020. "A network analysis of research productivity by country, discipline, and wealth," PLOS ONE, Public Library of Science, vol. 15(5), pages 1-15, May.
    6. Thomas Brenner, 2014. "Science, Innovation and National Growth," Working Papers on Innovation and Space 2014-03, Philipps University Marburg, Department of Geography.
    7. Klaus Jaffé, 2017. "The “Invisible Hand” of Economic Markets Can Be Visualized through the Synergy Created by Division of Labor," Complexity, Hindawi, vol. 2017, pages 1-10, December.
    8. Chadi Azmeh, 2022. "Quantity and quality of research output and economic growth: empirical investigation for all research areas in the MENA countries," Scientometrics, Springer;Akadémiai Kiadó, vol. 127(11), pages 6147-6163, November.
    9. Juan C. Correa & Henry Laverde-Rojas & Julian Tejada & Fernando Marmolejo-Ramos, 2022. "The Sci-Hub effect on papers’ citations," Scientometrics, Springer;Akadémiai Kiadó, vol. 127(1), pages 99-126, January.
    10. Henry Laverde-Rojas & Juan C. Correa, 2019. "Can scientific productivity impact the economic complexity of countries?," Scientometrics, Springer;Akadémiai Kiadó, vol. 120(1), pages 267-282, July.
    11. Tânia Pinto & Aurora Teixeira, 2023. "Does scientific research output matter for Portugal’s economic growth?," GEE Papers 0174, Gabinete de Estratégia e Estudos, Ministério da Economia, revised Jul 2023.
    12. Tânia Pinto & Aurora A. C. Teixeira, 2020. "The impact of research output on economic growth by fields of science: a dynamic panel data analysis, 1980–2016," Scientometrics, Springer;Akadémiai Kiadó, vol. 123(2), pages 945-978, May.

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