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Research and development (R&D) and development

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  • Lederman, Daniel
  • Maloney, William F.

Abstract

Lederman and Maloney trace the evolution of research and development (R&D) expenditures along the development process using a new global panel data set. They show that R&D effort measured as a share of GDP rises with development at an increasing rate. The authors examine how four groups of countries from Latin America, Asia, advanced manufacturing exporters, and advanced natural resource-abundant countries fare relative to the predicted development trajectory. Latin America generally underperforms as do some countries in Asia and Europe, but their striking finding is that some-Finland, Israel, the Republic of Korea, and Taiwan (China)-have radically deviated from the predicted trajectory and displayed impressive R&D takeoffs. The authors ask whether these countries overinvest in R&D but find that the high estimates of the social rates of return probably justify this effort. Moreover, the returns to R&D decline with per capita GDP. The authors attempt to explain why rich countries invest more in R&D than poor countries. They conclude that financial depth, protection of intellectual property rights, government capacity to mobilize resources, and the quality of research institutions are the main reasons why R&D efforts rise with the level of development.

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Bibliographic Info

Paper provided by The World Bank in its series Policy Research Working Paper Series with number 3024.

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Date of creation: 30 Apr 2003
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Handle: RePEc:wbk:wbrwps:3024

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Keywords: Scientific Research&Science Parks; Economic Theory&Research; Environmental Economics&Policies; Decentralization; Agricultural Knowledge&Information Systems; Economic Theory&Research; Science Education; Scientific Research&Science Parks; Environmental Economics&Policies; Education and Digital Divide;

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References

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  1. Blundell, Richard & Bond, Stephen, 1998. "Initial conditions and moment restrictions in dynamic panel data models," Journal of Econometrics, Elsevier, vol. 87(1), pages 115-143, August.
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  8. Zvi Griliches, 1998. "Patent Statistics as Economic Indicators: A Survey," NBER Chapters, in: R&D and Productivity: The Econometric Evidence, pages 287-343 National Bureau of Economic Research, Inc.
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  15. Stephen Bond & Anke Hoeffler, 2001. "GMM Estimation of Empirical Growth Models," Economics Series Working Papers 2001-W21, University of Oxford, Department of Economics.
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  20. repec:fth:harver:1473 is not listed on IDEAS
  21. Varsakelis, Nikos C., 2001. "The impact of patent protection, economy openness and national culture on R&D investment: a cross-country empirical investigation," Research Policy, Elsevier, vol. 30(7), pages 1059-1068, August.
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Cited by:
  1. Lederman, Daniel & Saenz, Laura, 2005. "Innovation and development around the world, 1960-2000," Policy Research Working Paper Series 3774, The World Bank.
  2. Krammer, Sorin M.S., 2009. "Drivers of national innovation in transition: Evidence from a panel of Eastern European countries," Research Policy, Elsevier, vol. 38(5), pages 845-860, June.

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