Research and Development Expenditures and Economic Growth: A Cross-Country Study

1994 ◽  
Vol 42 (2) ◽  
pp. 403-411 ◽  
Author(s):  
Rajeev K. Goel ◽  
Rati Ram
Keyword(s):  
Economic Growth ◽  
Research And Development ◽  
Country Study ◽  
Cross Country

scholarly journals Testing Significance of Macroeconomic Variables in Explaining Aggregate Economic Growth: A Cross-Country Study

2021 ◽  
Author(s):  
Md Arifur Rahman
Keyword(s):  
Economic Growth ◽  
Government Expenditure ◽  
Ordinary Least Squares ◽  
Macroeconomic Variables ◽  
First Order ◽  
Independent Variables ◽  
Country Study ◽  
Annual Consumption ◽  
Cross Country ◽  
The Relationship

Abstract The paper studies the relationship between the aggregate economic growth and the macroeconomic variables during the period 1977-2016. A first-order autocorrelation in the dependent and independent variables was detected. The residuals of the ordinary least squares (OLS) model were also affected by heteroscedasticity. By applying multiple econometric estimation techniques, the study finds that annual consumption growth, government expenditure growth, and gross savings to GDP ratio are the most statistically significant macroeconomic variables in explaining the change in aggregate economic growth.

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