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Economic Performance and R&D
Jönköping University, Jönköping International Business School, JIBS, Economics.
Jönköping University, Jönköping International Business School, JIBS, Economics.
2018 (English)Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesis
Abstract [en]

Researchers tend to disagree on the direction of the relation among R&D and economic growth, suggesting that if economic performance determines R&D investments countries might overinvest in their R&D expenditure. The purpose of this thesis is therefore to shed new light to this question by first establishing a relation among the variables and thereafter investigate the Granger causality between them. This paper is based on a panel study consisting of 60 countries, with various levels of income during the period 1996-2015. Using a fixed effects model, we can establish a positive relation between growth in R&D expenditure and GDP growth and using Granger causality tests and the Toda-Yamamoto augmented Granger causality tests, we can conclude that the growth of R&D expenditure determines economic performance in the short-run for countries in all income levels, however no conclusions can be made regarding the direction of Granger causality in the long-run. Hence, our results show that R&D investments stimulate economic growth and should, to some extent, be favoured by policy regardless of a nation's level of development.

Place, publisher, year, edition, pages
2018. , p. 36
Keywords [en]
Research and Development, Economic Growth, Endogenous Growth Theory, Granger Causality, Toda-Yamamoto, Income Groups
National Category
Economics
Identifiers
URN: urn:nbn:se:hj:diva-39901ISRN: JU-IHH-NAA-1-20180102OAI: oai:DiVA.org:hj-39901DiVA, id: diva2:1214282
Subject / course
IHH, Economics
Supervisors
Examiners
Available from: 2018-06-08 Created: 2018-06-06 Last updated: 2018-06-08Bibliographically approved

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CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf