R&D, Openness, and Growth
AbstractRecent studies have pointed out that trade liberalisation leads to technological spillovers, which, in turn, tend to improve the efficiency of the domestic Research and Development (R&D) sector, and ultimately boost economic growth. In this paper, we theoretically formalize the above mentioned relationship between trade openness and growth via technological and knowledge spill over in the R&D sector. We show that, under certain conditions, an increase in the degree of openness is not only growth enhancing, but also improves the standard of living. The study, thus, prescribe policies of developing and improving the domestic R&D sector in order to reap the full benefits of trade liberalisation.
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Bibliographic InfoPaper provided by University of Pretoria, Department of Economics in its series Working Papers with number 200623.
Length: 13 pages
Date of creation: Dec 2006
Date of revision:
Trade Openness; Growth; Research and Development;
Find related papers by JEL classification:
- F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
- O32 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Management of Technological Innovation and R&D
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
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