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The Impact Of R&D On The Singapore Economy: An Empirical Evaluation

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Author Info

  • YUEN PING HO

    ()
    (NUS Entrepreneurship Centre, National University of Singapore, Level 5, 21 Heng Mui Keng Terrace, Singapore 119613, Singapore)

  • POH KAM WONG

    ()
    (NUS Entrepreneurship Centre, National University of Singapore, Level 5, 21 Heng Mui Keng Terrace, Singapore 119613, Singapore)

  • MUN HENG TOH

    ()
    (NUS Business School, National University of Singapore, Business Link, Singapore 117591, Singapore)

Abstract

This paper provides empirical estimates for the impact of R&D on economic growth in Singapore. The Cobb–Douglas based analysis found that R&D investment had a significant impact on total factor productivity performance in the last 20 years and established a long-term equilibrium relationship between R&D investments and TFP. However, compared to OECD countries, the impact of R&D on growth in Singapore is not as strong. To catch up with the developed nations in terms of R&D productivity not only requires increasing R&D intensity in Singapore but also more efficient exploitation of domestic R&D activity.

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Bibliographic Info

Article provided by World Scientific Publishing Co. Pte. Ltd. in its journal The Singapore Economic Review.

Volume (Year): 54 (2009)
Issue (Month): 01 ()
Pages: 1-20

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Handle: RePEc:wsi:serxxx:v:54:y:2009:i:01:p:1-20

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Related research

Keywords: Economic growth; R&D expenditure; Total factor productivity;

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References

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  1. Madden, Gary G & Savage, Scott J & Bloxham, Paul, 2001. "Asian and OECD international R&D spillovers," MPRA Paper 11155, University Library of Munich, Germany.
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  14. M. Ishaq Nadiri, 1993. "Innovations and Technological Spillovers," NBER Working Papers 4423, National Bureau of Economic Research, Inc.
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  16. Pierre A. Mohnen & M. Ishaq Nadiri & Ingmar R. Prucha, 1984. "R&D, Production Structure, and Productivity Growth in the U.S., Japaneseand German Manufacturing Sectors," NBER Working Papers 1264, National Bureau of Economic Research, Inc.
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Cited by:
  1. Pop-Silaghi, Monica & Jude, Cristina & Alexa, Diana & Litan, Cristian, 2012. "Do business and public sector research and development expenditures contribute to economic growth in central and eastern European countries? A dynamic panel estimation," Economics Discussion Papers 2012-4, School of Economics, Kingston University London.

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