Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/83434 
Autor:innen: 
Erscheinungsjahr: 
2011
Schriftenreihe/Nr.: 
IES Working Paper No. 19/2011
Verlag: 
Charles University in Prague, Institute of Economic Studies (IES), Prague
Zusammenfassung: 
We examine the effect of research and development (R&D) on long-term economic growth using the Bayesian model averaging (BMA) to deal rigorously with model uncertainty. Previous empirical studies investigated the effect of dozens of regressors on long-term growth, but they did not examine the effect of R&D due to data unavailability. We extend these studies by proposing to capture the R&D intensity by the number of Nobel prizes in science. Using our indicator, our estimates show that R&D exerts a positive effect on long-term growth with posterior inclusion probability of 0.25 using our preferred parameter and model priors.
Schlagwörter: 
research and development
economic growth
Bayesian model averaging
JEL: 
O30
O32
O10
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
311.97 kB





Publikationen in EconStor sind urheberrechtlich geschützt.