Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/286298 
Title (translated): 
Assessment of the impact of investment in research and development and the number of researchers on economic growth
Year of Publication: 
2023
Citation: 
[Journal:] Revista de Métodos Cuantitativos para la Economía y la Empresa [ISSN:] 1886-516X [Volume:] 35 [Year:] 2023 [Pages:] 3-15
Publisher: 
Universidad Pablo de Olavide, Sevilla
Abstract (Translated): 
This research analyzes the impact of investment in Research and Development (R&D) and the number of researchers on the economic growth of some of the economies of the Organization for Economic Cooperation and Development (OECD), for the period 1996-2016. A causality analysis in the sense of Granger is performed and a panel data model is estimated. Data are obtained from the World Bank. There is empirical evidence of bidirectional causality between R&D and GDP per capita, but predominantly R&D Granger-causes GDP. Bidirectional causality is also found between the number of researchers and GDP per capita, but predominantly GDP Granger-causes the number of researchers. While the dynamic panel model of the MGM system in one stage shows that economic growth is positively affected by investment in R&D and the number of researchers. This work differs from others in the following aspects: 1) it considers a sample of 25 OECD countries in the period 1996-2016; 2) there is a greater availability of data, and 3) a dynamic panel data analysis is carried out that allows the use of a greater number of countries, variables and periods.
Subjects: 
investment in research and development
number of researchers
economicgrowth
Granger causality
panel data
JEL: 
O10
O30
O40
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-sa Logo
Document Type: 
Article

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