INNOVATION EFFECT THROUGH RESEARCH AND DEVELOPMENT ON ECONOMIC GROWTH IN 35 OECD COUNTRIES

Authors

  • Maman Ali M. Moustapha School of Economics, Wuhan University of Technology
  • Qian Yu School of Economics, Wuhan University of Technology

DOI:

https://doi.org/10.23925/2179-3565.2020v11i4p159-166

Keywords:

Research and development, Economic Growth, Innovation, OECD Countries

Abstract

This paper analyzes the effect of research and development (R&D) expenditures on economic growth in the Organization of Economic Cooperation and Development (OECD) countries over the period 2000-2016. This study conducts an empirical analysis using a multiple regression model. The main findings confirm that an increase in research and development expenditure by 1% would generate an increase of real GDP growth rate to 2.83 %. The implication emerging from this study is that government and institutions need to increase investment in R&D expenditures to fulfill inclusive economic growth perspective.

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Published

2021-01-08

Issue

Vol. 11 No. 4 (2020)

Section

Papers

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