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Research Effort and Economic Growth

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  • Razzak, Weshah

Abstract

Endogenous growth models based on micro-foundations predict that total factor productivity (TFP) growth is positively associated with effective research effort. We use macroeconomic-pooled time series-cross sectional data for the G7 countries from 2000 to 2017 to provide a robust estimate of this positive effect of research effort on TFP growth.

Suggested Citation

  • Razzak, Weshah, 2021. "Research Effort and Economic Growth," MPRA Paper 111665, University Library of Munich, Germany, revised 25 Jan 2022.
    • Handle: RePEc:pra:mprapa:111665
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    References listed on IDEAS

    as
    1. Elias Carayannis & David Campbell, 2011. "Open Innovation Diplomacy and a 21st Century Fractal Research, Education and Innovation (FREIE) Ecosystem: Building on the Quadruple and Quintuple Helix Innovation Concepts and the “Mode 3” Knowledge ," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 2(3), pages 327-372, September.
    2. Nicholas Bloom & Charles I. Jones & John Van Reenen & Michael Webb, 2020. "Are Ideas Getting Harder to Find?," American Economic Review, American Economic Association, vol. 110(4), pages 1104-1144, April.
    3. Charles I. Jones & Jihee Kim, 2018. "A Schumpeterian Model of Top Income Inequality," Journal of Political Economy, University of Chicago Press, vol. 126(5), pages 1785-1826.
    4. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth through Creative Destruction," Econometrica, Econometric Society, vol. 60(2), pages 323-351, March.
    5. Ufuk Akcigit & Qingmin Liu, 2016. "The Role Of Information In Innovation And Competition," Journal of the European Economic Association, European Economic Association, vol. 14(4), pages 828-870, August.
    6. Kuznets, Simon, 1973. "Modern Economic Growth: Findings and Reflections," American Economic Review, American Economic Association, vol. 63(3), pages 247-258, June.
    7. Martin Feldstein, 2017. "Underestimating the Real Growth of GDP, Personal Income, and Productivity," Journal of Economic Perspectives, American Economic Association, vol. 31(2), pages 145-164, Spring.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    TFP Growth; Research Efforts; Education; Human Capital; Useful Knowledge;
    All these keywords.

    JEL classification:

    • C2 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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