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Titel (übersetzt): 
Empirical analysis of the relationship between research, development, innovation, and economic growth in OECD countries
Erscheinungsjahr: 
2024
Quellenangabe: 
[Journal:] Revista de Métodos Cuantitativos para la Economía y la Empresa [ISSN:] 1886-516X [Volume:] 37 [Year:] 2024 [Pages:] 1-13
Verlag: 
Universidad Pablo de Olavide, Sevilla
Zusammenfassung (übersetzt): 
Taking a sample of 24 OECD countries, using a cointegrated panel, empirical evidence is provided at group and individual level of the positive effect of spending on research, development and innovation on economic growth during the 2000-2019 period. Assuming that patents act as a proxy for innovation and using the ordinary least squares dynamic estimator, the existence of a long-term equilibrium relationship is corroborated by which, and in per capita terms, an increase of 1.0 % in the stock of patents generates an increase in GDP of 0.52 %. Similarly, an increase in R&D spending of 1.0 % translates into GDP growth of 1.27 %. Additionally, by implementing a Granger causality test for a panel, a positive and significant relationship is found between R&D spending and the stock of patents, patent stock and economic growth, and R&D spending and economic growth.
Schlagwörter: 
R&D Spending
Innovation
Patents
Economic Growth
Cointegrated Panel
Granger Causality
JEL: 
C33
O30
O38
O40
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