Government R&D impact on the South African macro-economy
AbstractThis paper analyses the impact of government R&D on the macro-economy of South Africa. The empirical estimates of the impact of R&D are based on the backward and forward linkages of a macro-economy, within a national innovation system (NIS). There are structural implications of the study, namely how R&D investments can result in the creation of new industries, job creation and improved national productivity. The largest indirect impact of R&D expenditure by public institutions and agencies is on community services, financial and businesses and manufacturing, in terms of employment and contribution to the country's GDP. Community services are impacted through the backward linkages derived from the expenditure by various research institutions on intermediate inputs such as water, electricity and health. Describing and quantifying the linkages between research, development and innovation and economic impacts provides a basis for a greater understanding of the value the economy and its sectors derive from R&D. The results of the analysis indicates that the real economic significance of R&D lies not in spending, but in the results achieved and is measured in terms of contribution to innovation as a key determinant of economic and social wellbeing, productivity, and growth and development.
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Bibliographic InfoPaper provided by United Nations University, Maastricht Economic and social Research and training centre on Innovation and Technology in its series UNU-MERIT Working Paper Series with number 068.
Date of creation: 2012
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Web page: http://www.merit.unu.edu
research and development (R&D); innovation; knowledge economy indicators; input-output model; impact assessment;
Find related papers by JEL classification:
- R15 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Econometric and Input-Output Models; Other Methods
- O38 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Government Policy
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
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