Mission-oriented R&D and growth

Journal of Applied Economics

卷:24

Thomas H.W. Ziesemer¹ 

[1] Maastricht University, and UNU-MERIT;

关键词: total factor productivity;    mission-oriented r&d;    growth;    cointegrating var;   

DOI  :  10.1080/15140326.2021.1963395

来源: DOAJ

【 摘 要 】

We analyze the dynamic interaction of mission-oriented R&D expenditure stocks with domestic and foreign private and public R&D, total-factor-productivity (TFP), and gross domestic product (GDP) for seven EU countries. We use the vector-error-correction method. Permanent changes on mission-oriented R&D increase total-factor-productivity and GDP. On average across periods and countries, a 1% increase of mission-oriented R&D leads to an additional 0.485% public R&D, 0.705% private R&D, 0.485% for TFP, and 0.56% GDP. We also show years of positive gains, the sums of discounted net present values, and the average yearly gains/GDP ratio. Mission-oriented R&D has high internal rates of return.

【 授权许可】

Unknown