IDEAS home Printed from https://ideas.repec.org/a/spr/scient/v128y2023i4d10.1007_s11192-023-04638-0.html
   My bibliography  Save this article

Analysis of the impact of research output on economic growth with using a multivariate random effects model

Author

Listed:
  • Arman Pourghaz

    (Shahid Beheshti University)

  • Ehsan Bahrami Samani

    (Shahid Beheshti University)

  • Babak Shokri

    (Shahid Beheshti University)

Abstract

The purpose of this paper is to investigate the simultaneous effect of research outputs such as the number of articles indexed in Scopus on economic indicators such as inflation rate, unemployment rate and GDP of selected countries in the period of 2016 and 2020. Many articles have been studied in this regard, but none of them have focused on the simultaneous examination of research achievements on economic indicators. In some articles, research outputs on each of the economic growth indicators have been examined separately. Furthermore, separate analysis give biased estimates for the parameters and misleading inference. Consequently, we need to consider a method in which these variables can be modelled jointly. For this study, a random sample of 39 countries has been collected from the World Bank data to extract the economic index and Scopus data to extract the number of articles. In this paper, a joint model with random effects for longitudinal economic growth indicators is proposed. For these data, the simultaneous effects of some covariate for example the number of articles indexed in Scopus on the economic growth indicators as three mixed correlated responses are explored. There are main findings. Firstly, in the simultaneous examination of the effect of research outputs on economic indicators, some latent influencing factors related to each country under the title of random effects that have significant on economic indicators. Secondly, research achievements on economic indicators are significant at the same time. This significance is due to the simultaneous examination of economic indicators and appropriate statistical models are obtained with the least error compared to separate analysis.

Suggested Citation

  • Arman Pourghaz & Ehsan Bahrami Samani & Babak Shokri, 2023. "Analysis of the impact of research output on economic growth with using a multivariate random effects model," Scientometrics, Springer;Akadémiai Kiadó, vol. 128(4), pages 2259-2282, April.
    • Handle: RePEc:spr:scient:v:128:y:2023:i:4:d:10.1007_s11192-023-04638-0
    DOI: 10.1007/s11192-023-04638-0
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s11192-023-04638-0
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s11192-023-04638-0?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-1037, October.
    2. Ling-Chu Lee & Pin-Hua Lin & Yun-Wen Chuang & Yi-Yang Lee, 2011. "Research output and economic productivity: a Granger causality test," Scientometrics, Springer;Akadémiai Kiadó, vol. 89(2), pages 465-478, November.
    3. Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 70(1), pages 65-94.
    4. Mikael Lindahl & Alan B. Krueger, 2001. "Education for Growth: Why and for Whom?," Journal of Economic Literature, American Economic Association, vol. 39(4), pages 1101-1136, December.
    5. Petrakis, P. E. & Stamatakis, D., 2002. "Growth and educational levels: a comparative analysis," Economics of Education Review, Elsevier, vol. 21(5), pages 513-521, October.
    6. Peter Vinkler, 2008. "Correlation between the structure of scientific research, scientometric indicators and GDP in EU and non-EU countries," Scientometrics, Springer;Akadémiai Kiadó, vol. 74(2), pages 237-254, February.
    7. Böhm, Sebastian & Grossmann, Volker & Steger, Thomas M., 2014. "Does Public Education Expansion Lead to Trickle-Down Growth?," IZA Discussion Papers 8542, Institute of Labor Economics (IZA).
    8. Benos, Nikos & Zotou, Stefania, 2014. "Education and Economic Growth: A Meta-Regression Analysis," World Development, Elsevier, vol. 64(C), pages 669-689.
    9. Roula Inglesi-Lotz & Mehmet Balcilar & Rangan Gupta, 2014. "Time-varying causality between research output and economic growth in US," Scientometrics, Springer;Akadémiai Kiadó, vol. 100(1), pages 203-216, July.
    10. Heckman, James J, 1978. "Dummy Endogenous Variables in a Simultaneous Equation System," Econometrica, Econometric Society, vol. 46(4), pages 931-959, July.
    11. R. Inglesi-Lotz & A. Pouris, 2013. "The influence of scientific research output of academics on economic growth in South Africa: an autoregressive distributed lag (ARDL) application," Scientometrics, Springer;Akadémiai Kiadó, vol. 95(1), pages 129-139, April.
    12. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
    13. Vu, Tam Bang & Hammes, David L. & Im, Eric Iksoon, 2012. "Vocational or university education? A new look at their effects on economic growth," Economics Letters, Elsevier, vol. 117(2), pages 426-428.
    14. Jang C. Jin & Lawrence Jin, 2013. "Research publications and economic growth: evidence from cross-country regressions," Applied Economics, Taylor & Francis Journals, vol. 45(8), pages 983-990, March.
    15. Hamilton Ntuli & Roula Inglesi-Lotz & Tsangyao Chang & Anastassios Pouris, 2015. "Does research output cause economic growth or vice versa? Evidence from 34 OECD countries," Journal of the Association for Information Science & Technology, Association for Information Science & Technology, vol. 66(8), pages 1709-1716, August.
    16. Teixeira, Aurora A.C. & Queirós, Anabela S.S., 2016. "Economic growth, human capital and structural change: A dynamic panel data analysis," Research Policy, Elsevier, vol. 45(8), pages 1636-1648.
    17. Pereira, João & St. Aubyn, Miguel, 2009. "What level of education matters most for growth?: Evidence from Portugal," Economics of Education Review, Elsevier, vol. 28(1), pages 67-73, February.
    18. Chadi Azmeh, 2022. "Quantity and quality of research output and economic growth: empirical investigation for all research areas in the MENA countries," Scientometrics, Springer;Akadémiai Kiadó, vol. 127(11), pages 6147-6163, November.
    19. Tânia Pinto & Aurora A. C. Teixeira, 2020. "The impact of research output on economic growth by fields of science: a dynamic panel data analysis, 1980–2016," Scientometrics, Springer;Akadémiai Kiadó, vol. 123(2), pages 945-978, May.
    20. Rosenberg, Nathan & Nelson, Richard R., 1994. "American universities and technical advance in industry," Research Policy, Elsevier, vol. 23(3), pages 323-348, May.
    21. Self, Sharmistha & Grabowski, Richard, 2004. "Does education at all levels cause growth? India, a case study," Economics of Education Review, Elsevier, vol. 23(1), pages 47-55, February.
    22. Hamid Sepehrdoust & Mohsen Tartar & Razieh Davarikish, 2021. "Does Scientific Productivity Stimulate Intensified Technology Exports in Developing Economies," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 12(4), pages 2111-2135, December.
    23. Böhm, Sebastian & Grossmann, Volker & Steger, Thomas M., 2015. "Does expansion of higher education lead to trickle-down growth?," Journal of Public Economics, Elsevier, vol. 132(C), pages 79-94.
    24. Jalil, Abdul & Idrees, Muhammad, 2013. "Modeling the impact of education on the economic growth: Evidence from aggregated and disaggregated time series data of Pakistan," Economic Modelling, Elsevier, vol. 31(C), pages 383-388.
    25. Sakiru Adebola Solarin & Yuen Yee Yen, 2016. "A global analysis of the impact of research output on economic growth," Scientometrics, Springer;Akadémiai Kiadó, vol. 108(2), pages 855-874, August.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Tânia Pinto & Aurora A. C. Teixeira, 2020. "The impact of research output on economic growth by fields of science: a dynamic panel data analysis, 1980–2016," Scientometrics, Springer;Akadémiai Kiadó, vol. 123(2), pages 945-978, May.
    2. Tânia Pinto & Aurora Teixeira, 2023. "Does scientific research output matter for Portugal’s economic growth?," GEE Papers 0174, Gabinete de Estratégia e Estudos, Ministério da Economia, revised Jul 2023.
    3. Sakiru Adebola Solarin & Yuen Yee Yen, 2016. "A global analysis of the impact of research output on economic growth," Scientometrics, Springer;Akadémiai Kiadó, vol. 108(2), pages 855-874, August.
    4. Chadi Azmeh, 2022. "Quantity and quality of research output and economic growth: empirical investigation for all research areas in the MENA countries," Scientometrics, Springer;Akadémiai Kiadó, vol. 127(11), pages 6147-6163, November.
    5. Pablo Jack & Jeremias Lachman & Andrés López, 2021. "Scientific knowledge production and economic catching-up: an empirical analysis," Scientometrics, Springer;Akadémiai Kiadó, vol. 126(6), pages 4565-4587, June.
    6. Iryna Kalenyuk & Liudmyla Tsymbal, 2021. "Assessment of the intellectual component in economic development," Scientometrics, Springer;Akadémiai Kiadó, vol. 126(6), pages 4793-4816, June.
    7. Adejumo, Oluwabunmi O. & Asongu, Simplice A. & Adejumo, Akintoye V., 2021. "Education enrolment rate vs employment rate: Implications for sustainable human capital development in Nigeria," International Journal of Educational Development, Elsevier, vol. 83(C).
    8. Sultana, Tanzila & Dey, Sima Rani & Tareque, Mohammad, 2022. "Exploring the linkage between human capital and economic growth: A look at 141 developing and developed countries," Economic Systems, Elsevier, vol. 46(3).
    9. M. Gouveia & R. Inglesi-Lotz, 2021. "Examining the relationship between climate change-related research output and CO2 emissions," Scientometrics, Springer;Akadémiai Kiadó, vol. 126(11), pages 9069-9111, November.
    10. Daniel Ştefan Armeanu & Georgeta Vintilă & Ştefan Cristian Gherghina, 2017. "Empirical Study towards the Drivers of Sustainable Economic Growth in EU-28 Countries," Sustainability, MDPI, vol. 10(1), pages 1-22, December.
    11. Roula Inglesi-Lotz & Mehmet Balcilar & Rangan Gupta, 2014. "Time-varying causality between research output and economic growth in US," Scientometrics, Springer;Akadémiai Kiadó, vol. 100(1), pages 203-216, July.
    12. Lenkei, Balint & Mustafa, Ghulam & Vecchi, Michela, 2018. "Growth in emerging economies: Is there a role for education?," Economic Modelling, Elsevier, vol. 73(C), pages 240-253.
    13. Hassan, Gazi & Cooray, Arusha, 2015. "Effects of male and female education on economic growth: Some evidence from Asia," Journal of Asian Economics, Elsevier, vol. 36(C), pages 97-109.
    14. Ogundari, Kolawole & Awokuse, Titus, 2018. "Human capital contribution to economic growth in Sub-Saharan Africa: Does health status matter more than education?," Economic Analysis and Policy, Elsevier, vol. 58(C), pages 131-140.
    15. Kostakis, Ioannis & Lolos, Sarantis & Doulgeraki, Charikleia, 2020. "Cultural Heritage led Growth: Regional evidence from Greece (1998-2016)," MPRA Paper 98443, University Library of Munich, Germany.
    16. Elizabeth S. Vieira & Jorge Cerdeira, 2022. "The integration of African countries in international research networks," Scientometrics, Springer;Akadémiai Kiadó, vol. 127(4), pages 1995-2021, April.
    17. Andrea Bonaccorsi & Daniele Biancardi & Mabel Sanchez Barrioluengo & Federico Biagi, 2019. "Study on Higher Education Institutions and Local Development," JRC Research Reports JRC117272, Joint Research Centre.
    18. Mariya Neycheva, 2010. "Does public expenditure on education matter for growth in Europe? A comparison between old EU member states and post-communist economies," Post-Communist Economies, Taylor & Francis Journals, vol. 22(2), pages 141-164.
    19. Omwoyo Bosire Onyancha, 2020. "A meta-analysis study of the relationship between research and economic development in selected countries in sub-Saharan Africa," Scientometrics, Springer;Akadémiai Kiadó, vol. 123(2), pages 655-675, May.
    20. Churchill, Sefa Awawoyi & Yew, Siew Ling & Ugur, Mehmet, 2015. "Effects of government education and health expenditures on economic growth: a meta-analysis," Greenwich Papers in Political Economy 14072, University of Greenwich, Greenwich Political Economy Research Centre.

    More about this item

    Keywords

    Joint modelling; Economic growth indicators; Longitudinal studies; Maximum likelihood; Research output; Random effect;
    All these keywords.

    JEL classification:

    • C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
    • C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Estimation: General
    • C30 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:scient:v:128:y:2023:i:4:d:10.1007_s11192-023-04638-0. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.