What are the effects of public debt on innovation and employment growth?
The study here analyzes, across European countries, the relationship between labour and drivers of technological innovation, also considering the interaction of these variables with the structural indicator of the public debt. The main findings are: the fruitful effect of total public expenditure on education as a percentage of GDP and R&D intensity on employment rate, whereas an increase of general government consolidated gross debt has a negative effect for employment rate as well as for technology proxies. Empirical evidence provides some elements to discuss main economic policy implications from relationships between observed facts.
|Length:||23 pages Keywords : Employment Growth, Labour, R&D Intensity, Technological Innovation, Education, Public Debt.|
|Date of creation:||Jun 2012|
|Date of revision:|
|Contact details of provider:|| Postal: Via Real Collegio, 30 10024 - Moncalieri TO|
Web page: http://www.ceris.cnr.it/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- John T . Addison & Paulino Teixeira, 2001. "Technology, Employment and Wages," LABOUR, CEIS, vol. 15(2), pages 191-219, 06.
- Jonathan Michie & Christine Oughton & Mario Pianta, 2002. "Innovation and the Economy," International Review of Applied Economics, Taylor & Francis Journals, vol. 16(3), pages 253-264.
- Sapir, Andre & Aghion, Philippe & Bertola, Giuseppe & Hellwig, Martin & Pisani-Ferry, Jean & Rosati, Dariusz & Vinals, Jose & Wallace, Helen, 2004.
"An Agenda for a Growing Europe: The Sapir Report,"
Oxford University Press, number 9780199271498, December.
- André Sapir & Philippe Aghion & Giuseppe Bertola & Martin Hellwig & Jean Pisani-Ferry & Bernard Lange & José Viñals & Helen Wallace & Marco Buti & Mario Nava & Peter Smith, 2004. "An agenda for a growing Europe: the Sapir report," ULB Institutional Repository 2013/8070, ULB -- Universite Libre de Bruxelles.
- David R. Stockman, 2001. "Balanced-Budget Rules: Welfare Loss and Optimal Policies," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 4(2), pages 438-459, July.
- Marva Corley & Jonathan Michie & Christine Oughton, 2002. "Technology, Growth and Employment," International Review of Applied Economics, Taylor & Francis Journals, vol. 16(3), pages 265-276.
- Bogliacino, Francesco & Pianta, Mario, 2010. "Innovation and Employment: a Reinvestigation using Revised Pavitt classes," Research Policy, Elsevier, vol. 39(6), pages 799-809, July.
- Goel, Rajeev K. & Payne, James E. & Ram, Rati, 2008. "R&D expenditures and U.S. economic growth: A disaggregated approach," Journal of Policy Modeling, Elsevier, vol. 30(2), pages 237-250.
- Grossmann, Volker, 2007.
"How to promote R&D-based growth? Public education expenditure on scientists and engineers versus R&D subsidies,"
Journal of Macroeconomics,
Elsevier, vol. 29(4), pages 891-911, December.
- Volker Grossmann, 2004. "How to Promote R&D-based Growth? Public Education Expenditure on Scientists and Engineers versus R&D Subsidies," CESifo Working Paper Series 1225, CESifo Group Munich.
- Stockman, David R., 2010. "Balanced-budget rules: Chaos and deterministic sunspots," Journal of Economic Theory, Elsevier, vol. 145(3), pages 1060-1085, May.
- Ogawa, Kazuo, 2007. "Debt, R&D investment and technological progress: A panel study of Japanese manufacturing firms' behavior during the 1990s," Journal of the Japanese and International Economies, Elsevier, vol. 21(4), pages 403-423, December.
- David R. Stockman, 2004. "Default, Reputation and Balanced-Budget Rules," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 7(2), pages 382-405, April.
When requesting a correction, please mention this item's handle: RePEc:csc:cerisp:201206. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Enrico Viarisio)or (Anna Perin) or (Giancarlo Birello)
If references are entirely missing, you can add them using this form.