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R&D-induced Growth in the OECD?

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Author Info
Marios Zachariadis

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Abstract

The study uses aggregate and manufacturing sector data for a group of ten OECD countries for the period 1971 to 1995 to estimate a system of two equations implied by a model of R&D-induced growth in steady state. These equations relate R&D intensity to productivity growth and the latter to output growth. The author finds evidence of a positive impact of aggregate R&D intensity on the growth rates of productivity and output. The null hypothesis that growth is not induced by R&D is rejected in favor of the Schumpeterian endogenous growth framework without scale effects. The R&D impact for the aggregate economy is distinctly larger than for the manufacturing sector. Finally, an extension of the empirical model shows that openness has a positive impact on productivity growth. Copyright Blackwell Publishing Ltd 2004.

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Article provided by Blackwell Publishing in its journal Review of Development Economics.

Volume (Year): 8 (2004)
Issue (Month): 3 (08)
Pages: 423-439
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Handle: RePEc:bla:rdevec:v:8:y:2004:i:3:p:423-439

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Dinopoulos, Elias & Thompson, Peter, 2000. "Endogenous growth in a cross-section of countries," Journal of International Economics, Elsevier, vol. 51(2), pages 335-362, August. [Downloadable!] (restricted)
  2. Newey, Whitney K & West, Kenneth D, 1987. "A Simple, Positive Semi-definite, Heteroskedasticity and Autocorrelation Consistent Covariance Matrix," Econometrica, Econometric Society, vol. 55(3), pages 703-08, May. [Downloadable!] (restricted)
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  3. repec:att:wimass:199620r is not listed on IDEAS
  4. Zvi Griliches, 1980. "Returns to Research and Development Expenditures in the Private Sector," NBER Chapters, in: New Developments in Productivity Measurement, pages 419-462 National Bureau of Economic Research, Inc. [Downloadable!]
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  5. Griffith, Rachel & Redding, Stephen J & Van Reenen, John, 2000. "Mapping The Two Faces Of R&D: Productivity Growth In A Panel Of OECD Industries," CEPR Discussion Papers 2457, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  6. Susanto Basu & John Fernald & Miles Kimball, 2002. "Are Technology Improvements Contractionary?," Harvard Institute of Economic Research Working Papers 1986, Harvard - Institute of Economic Research. [Downloadable!]
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  7. Jean IMBS, 1998. "Technology, Growth and the Business Cycle," Cahiers de Recherches Economiques du Département d'Econométrie et d'Economie politique (DEEP) 9821, Université de Lausanne, Faculté des HEC, DEEP. [Downloadable!]
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  8. Griliches, Zvi, 1980. "R & D and the Productivity Slowdown," American Economic Review, American Economic Association, vol. 70(2), pages 343-48, May. [Downloadable!] (restricted)
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  9. Bayoumi, Tamim & Coe, David T & Helpman, Elhanan, 1996. "R&D Spillovers and Global Growth," CEPR Discussion Papers 1467, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  10. Evans, Paul, 1996. "Using cross-country variances to evaluate growth theories," Journal of Economic Dynamics and Control, Elsevier, vol. 20(6-7), pages 1027-1049. [Downloadable!] (restricted)
  11. Jones, Charles I, 1995. "Time Series Tests of Endogenous Growth Models," The Quarterly Journal of Economics, MIT Press, vol. 110(2), pages 495-525, May. [Downloadable!] (restricted)
  12. Peter Howitt, 1999. "Steady Endogenous Growth with Population and R & D Inputs Growing," Journal of Political Economy, University of Chicago Press, vol. 107(4), pages 715-730, August. [Downloadable!] (restricted)
  13. Romer, Paul M, 1990. "Endogenous Technological Change," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages S71-102, October. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Marios Zachariadis, . "Productivity and Prices in Europe: Micro-Evidence for the Period 1975 to 1990," Departmental Working Papers 2002-12, Department of Economics, Louisiana State University. [Downloadable!]
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  2. Bulent Unel, . "R&D Spillovers Through Trade in a Panel of OECD Industries," Departmental Working Papers 2006-14, Department of Economics, Louisiana State University. [Downloadable!]
    Other versions:
  3. Jakob B. Madsen, 2006. "Are there Diminishing Returns to R&D?," EPRU Working Paper Series 06-05, Economic Policy Research Unit (EPRU), University of Copenhagen. Department of Economics. [Downloadable!]
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  4. Eskander Alvi & Debasri Mukherjee & Ashraf Eid, 2007. "Do Patent Protection and Technology Transfer Facilitate R&D in Developed and Emerging Countries? A Semiparametric Study," Atlantic Economic Journal, International Atlantic Economic Society, vol. 35(2), pages 217-231, June. [Downloadable!] (restricted)
  5. Jakob Madsen, 2008. "Semi-endogenous versus Schumpeterian growth models: testing the knowledge production function using international data," Journal of Economic Growth, Springer, vol. 13(1), pages 1-26, March. [Downloadable!] (restricted)
    Other versions:
  6. Ulku, Hulya, 2005. "R&D, Innovation and Growth: Evidence from Four Manufacturing Sectors in OECD Countries," Development Economics and Public Policy Working Papers 30542, University of Manchester, Institute for Development Policy and Management (IDPM). [Downloadable!]
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This page was last updated on 2009-11-22.

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