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

Author

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  • 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.

Suggested Citation

  • Yuen Ping Ho & Poh Kam Wong & Mun Heng Toh, 2009. "The Impact Of R&D On The Singapore Economy: An Empirical Evaluation," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 54(01), pages 1-20.
  • Handle: RePEc:wsi:serxxx:v:54:y:2009:i:01:n:s0217590809003239
    DOI: 10.1142/S0217590809003239
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    Cited by:

    1. Iman Miremadi & Yadollah Saboohi, 2018. "Planning for Investment in Energy Innovation: Developing an Analytical Tool to Explore the Impact of Knowledge Flow," International Journal of Energy Economics and Policy, Econjournals, vol. 8(2), pages 7-19.
    2. Pop Silaghi, Monica Ioana & Alexa, Diana & Jude, Cristina & Litan, Cristian, 2014. "Do business and public sector research and development expenditures contribute to economic growth in Central and Eastern European Countries? A dynamic panel estimation," Economic Modelling, Elsevier, vol. 36(C), pages 108-119.

    More about this item

    Keywords

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

    JEL classification:

    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East

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