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R&D and wholesale trade are critical to the economy: Identifying dominant sectors from economic networks

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Abstract

Using a network approach we empirically identify the most critical sectors for 49 different economies. Wholesale trade is dominant for over half the countries, but increasingly R&D activities are taking on an equivalent importance. Recognizing R&D as a critical sector as countries develop urges caution against disinvesting in this sector.

Suggested Citation

  • Dungey, Mardi & Volkov, Vladimir, 2017. "R&D and wholesale trade are critical to the economy: Identifying dominant sectors from economic networks," Working Papers 2017-12, University of Tasmania, Tasmanian School of Business and Economics.
  • Handle: RePEc:tas:wpaper:23733
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    File URL: http://eprints.utas.edu.au/23733/1/2017_12_Dungey_Volkov.pdf
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    References listed on IDEAS

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    Cited by:

    1. repec:eee:ecolet:v:170:y:2018:i:c:p:171-174 is not listed on IDEAS
    2. Jorge Miranda-Pinto, 2019. "Production Network Structure, Service Share, and Aggregate Volatility," Discussion Papers Series 607, School of Economics, University of Queensland, Australia.

    More about this item

    Keywords

    Networks; input-output tables; sectors; research and development;

    JEL classification:

    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)

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