Employment, Development and Research Expenditure in European Union: analysis of causality and comparison with the United States, 1993-2003
AbstractWe analyse causality between real values of expenditure on Research and Development, RD, and Gross Domestic Product, Gdp, in 15 countries of European Union and the United States for 1993-2003, by means of Granger´s test and an interdependent dynamic model. The lower averages of RD expenditure per inhabitant of many European countries, in comparison with the US, play an important role to explain lower levels of real Gdp per inhabitant and lower rates of Employment. The main conclusion points to the convenience of fostering support to research in several European countries in all fields, both technological and non-technological, in order to get a higher degree of convergence to the levels of income per inhabitant and rates of employment of the USA.
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Bibliographic InfoArticle provided by Euro-American Association of Economic Development in its journal International Journal of Applied Econometrics and Quantitative Studies .
Volume (Year): 2 (2005)
Issue (Month): 2 ()
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Web page: http://www.usc.es/economet/eaa.htm
Find related papers by JEL classification:
- C5 - Mathematical and Quantitative Methods - - Econometric Modeling
- C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
- O18 - Economic Development, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
- O52 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Europe
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- Guisan, M.Carmen, 2001. "Causality and Cointegration between Consumption and GDP in 25 OECD countries: limitations of cointegration approach," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 1(1), pages 39-61.
- Fagerberg, Jan, 1987. "A technology gap approach to why growth rates differ," Research Policy, Elsevier, vol. 16(2-4), pages 87-99, August.
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