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R&D expenditure in G7 countries and implications for endogenous fluctuations and growth

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  • Wälde, Klaus
  • Woitek, Ulrich

Abstract

The literature on endogenous growth cycles predicts countercyclical R&D expenditure. Aggregate R&D expenditure in G7 countries from 1973 to 1997 seems to be procyclical. Implications for future theoretical research are discussed.

Suggested Citation

  • Wälde, Klaus & Woitek, Ulrich, 2003. "R&D expenditure in G7 countries and implications for endogenous fluctuations and growth," Dresden Discussion Paper Series in Economics 03/03, Technische Universität Dresden, Faculty of Business and Economics, Department of Economics.
  • Handle: RePEc:zbw:tuddps:0303
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    References listed on IDEAS

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    Cited by:

    1. Barbara Annicchiarico & Alessandra Pelloni, 2014. "Productivity growth and volatility: how important are wage and price rigidities?," Oxford Economic Papers, Oxford University Press, vol. 66(1), pages 306-324, January.
    2. Ander Pérez Orive, 2010. "Credit Constraints, Firms' Precautionary Investment, and the Business Cycle," Working Papers 506, Barcelona Graduate School of Economics.
    3. Hans van Ophem & Noud P.A. van Giersbergen & Kees Jan van Garderen & Maurice J.G. Bun, 2017. "The cyclicality of R&D investment revisited," UvA-Econometrics Working Papers 17-01, Universiteit van Amsterdam, Dept. of Econometrics.

    More about this item

    Keywords

    Cyclical Properties of R&D Expenditure; Growth Cycles;

    JEL classification:

    • C2 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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