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Quanto e come investire in ricerca per massimizzare la crescita economica? Analisi e implicazioni di politica economica per l’Italia e l’Europa

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Abstract

This paper analyzes the relationship between economic growth and research funding. The econometric analysis show that gross domestic expenditure on R&D (GERD) as percentage of GDP is a important driver of economic growth (R2 adj = 71%) that is measured by GDP per capita. The optimization shows that the level of GERD equal to 2.6 maximizes the GDP per capita, moreover is important that GERD financed by government is lesser than 30%. The paper also discusses the research policy implications of the Lisbon Strategy, the USA, Japan, and in particular of Italy.

Suggested Citation

  • Mario Coccia, 2007. "Quanto e come investire in ricerca per massimizzare la crescita economica? Analisi e implicazioni di politica economica per l’Italia e l’Europa," CERIS Working Paper 200705, Institute for Economic Research on Firms and Growth - Moncalieri (TO) ITALY -NOW- Research Institute on Sustainable Economic Growth - Moncalieri (TO) ITALY.
  • Handle: RePEc:csc:cerisp:200705
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    References listed on IDEAS

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    1. Swan, Trevor W, 2002. "Economic Growth," The Economic Record, The Economic Society of Australia, vol. 78(243), pages 375-380, December.
    2. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth through Creative Destruction," Econometrica, Econometric Society, vol. 60(2), pages 323-351, March.
    3. Tjalling C. Koopmans, 1963. "On the Concept of Optimal Economic Growth," Cowles Foundation Discussion Papers 163, Cowles Foundation for Research in Economics, Yale University.
    4. Francesco Daveri & Cecilia Jona-Lasinio, 2005. "Italy's Decline: Getting the Facts Right," Giornale degli Economisti, GDE (Giornale degli Economisti e Annali di Economia), Bocconi University, vol. 64(4), pages 365-410, December.
    5. Markus Balzat & Andreas Pyka, 2005. "Mapping National Innovation Systems in the OECD Area," Discussion Paper Series 279, Universitaet Augsburg, Institute for Economics.
    6. Barry Bozeman & Daniel Sarewitz, 2005. "Public values and public failure in US science policy," Science and Public Policy, Oxford University Press, vol. 32(2), pages 119-136, April.
    7. Moses Abramovitz, 1956. "Resource and Output Trends in the United States Since 1870," NBER Books, National Bureau of Economic Research, Inc, number abra56-1, January.
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    Keywords

    Economic growth; Research funding; Comparative study; Economic policy; Optimization;

    JEL classification:

    • C00 - Mathematical and Quantitative Methods - - General - - - General
    • E00 - Macroeconomics and Monetary Economics - - General - - - General
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries

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