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R&D expenditures and the role of government around the world

  • Ricardo N.Bebczuk

The goal of this paper is to conduct an empirical investigation on the macroeconomic determinants of research and development (R&D) expenditures and to assess the role of government in the light of recent developments brought about by the endogenous growth theory. The sample comprises 88 countries over the 1980s and 1990s. Our results are broadly consistent with the theoretical predictions, although some striking results are uncovered, namely: (i) trade openness has a negative effect on R&D, but this effect is mitigated as per capita GDP and the trade with OECD countries increase; (ii) investment in R&D is negatively associated to investment in physical capital; (iii) governments fund a higher share of R&D in countries suffering more severe market failures, but they do not compensate for variations in private R&D.

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File URL: http://www.econ.uchile.cl/uploads/publicacion/51217946-7b08-44ed-80bf-8bcc4ad53240.pdf
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Article provided by University of Chile, Department of Economics in its journal Estudios de Economia.

Volume (Year): 29 (2002)
Issue (Month): 1 Year 2002 (June)
Pages: 109-121

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Handle: RePEc:udc:esteco:v:29:y:2002:i:1:p:109-121
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  1. Clarke, George, 2001. "How the quality of institutions affects technological deepening in developing countries," Policy Research Working Paper Series 2603, The World Bank.
  2. Gene M. Grossman & Elhanan Helpman, 1994. "Endogenous Innovation in the Theory of Growth," Journal of Economic Perspectives, American Economic Association, vol. 8(1), pages 23-44, Winter.
  3. Arthur M. Diamond, 1999. "Does Federal Funding "Crowd In" Private Funding Of Science?," Contemporary Economic Policy, Western Economic Association International, vol. 17(4), pages 423-431, October.
  4. Ricardo J. Caballero & Adam B. Jaffe, 1993. "How High are the Giants' Shoulders: An Empirical Assessment of Knowledge Spillovers and Creative Destruction in a Model of Economic Growth," NBER Working Papers 4370, National Bureau of Economic Research, Inc.
  5. Kaufmann, Daniel & Kraay, Aart & Zoido-Lobaton, Pablo, 1999. "Governance matters," Policy Research Working Paper Series 2196, The World Bank.
  6. Nathan Rosenberg, 1996. "Uncertainty and technological change," Conference Series ; [Proceedings], Federal Reserve Bank of Boston, vol. 40(Jun), pages 91-125.
  7. Douglas W. Diamond & Philip H. Dybvig, 2000. "Bank runs, deposit insurance, and liquidity," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Win, pages 14-23.
  8. Paul Romer, 1989. "Endogenous Technological Change," NBER Working Papers 3210, National Bureau of Economic Research, Inc.
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