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Innovation and output in OECD countries: implications upon emerging economies

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  • Zoltan Bakucs
  • Imre Ferto

Abstract

The paper analyses the long run relationship between research and development expenditure and GDP in the OECD and emerging countries between 1991 and 2000 using panel cointegration methods. Our results suggest the long-run causality running from research and development investment towards GDP. Estimated elasticities show the increased importance of R&D investment, 1% increase in innovation investments generates on average a 0.58% increase of the output. In addition, we show that unit research and development investment increase generates higher returns in emerging than in developed economies.

Suggested Citation

  • Zoltan Bakucs & Imre Ferto, 2011. "Innovation and output in OECD countries: implications upon emerging economies," International Journal of Innovation and Learning, Inderscience Enterprises Ltd, vol. 9(4), pages 388-400.
    • Handle: RePEc:ids:ijilea:v:9:y:2011:i:4:p:388-400
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    Cited by:

    1. Taslima Akther & Mushfiqur Rahman & Md. Mufidur Rahman, 2023. "Factors influencing commercial bank profitability in Bangladesh: a panel data approach," Future Business Journal, Springer, vol. 9(1), pages 1-20, December.

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