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: |
Web page: http://www.ceris.cnr.it/
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CESifo Working Paper Series
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- 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.
- 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,"
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- 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.
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