The Impact of Research and Development on Economic Growth and Productivity in the U.S. States: Online Appendix

This paper brings together the importance of intellectual property protection (IPP) and entrepreneurship in economic growth. The paper surveys the economic literature on what factors are important to growth. The focus is on recent models of endogenous growth which reflect on the role of investment, technological change and education. Secondly, publications, which measure the impact of IPP on some of the growth elements identified are reviewed. The third section deals with IPP and the entrepreneur as an important agent and facilitator of growth. It discusses the nature of IPP as an incentive in not only stimulating the development of new technologies and processes but also the dissemination of existing technologies. Using the surveys as background, short case studies for India and Brazil are presented on IPP as a stimulus and application of research and development. The last section summarizes the previous sections and draws some conclusions with respect to policy.

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THE IMPACT OF INNOVATION ON ECONOMIC GROWTH: THE SPILLOVER EFFECT OF FOREIGN DIRECT INVESTMENT

Humanities & Social Sciences Reviews ◽

10.18510/hssr.2020.8279 ◽

2020 ◽

Vol 8 (2) ◽

pp. 708-714

Author(s):

Nguyen Tran Thai Ha ◽

Sobar M. Johari ◽

Trinh Thi Huyen Thuong ◽

Nguyen Thi Minh Phuong ◽

Le Thi Hong Anh

Keyword(s):

Economic Growth ◽

Foreign Direct Investment ◽

Research And Development ◽

Direct Investment ◽

Positive Impact ◽

Spillover Effect ◽

Empirical Method ◽

Convincing Evidence ◽

Positive Contribution ◽

The Impact

Purpose of the study: Innovation is seen as the key to improving quality and productivity, thereby promoting competition and economic growth. This study analyzes the impact of innovation on economic growth through various measures, such as research and development spending, the number of researchers, number of patents as well as trademark registrations. Research results are evidence to recommend policies for intellectual-based economic growth. Methodology: Literature review and empirical analysis conducted in the study. The empirical method is a two-step System Generalize Methods of Moments (GMM), aiming at reliable results. Accessing the World Bank Database, research data from 64 developed and developing countries are collected from 2006 to 2014. Main Findings: The empirical findings show that innovation plays a crucial contribution in promoting economic growth, similar to national openness and government spending on education. This study also finds a positive impact on foreign investment flows and their spillover role in enhancing the correlation between innovation and economic growth. Applications of this study: The findings of this study focus on the contributions of innovation, foreign direct investment inflows, and other macro factors that can be enforced to improve economic growth by policymakers. Novelty/Originality of this study: The study uses different measures of innovation, including inputs such as the number of researchers, research and development expenditure, and outputs as the number of patents and number of trademark registrations. Empirical findings are found consistently, thus confirming that innovation is very important for economic growth. The study also shows convincing evidence confirming the positive contribution of foreign direct investment as well as its spillover effect on innovation and economic growth.

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Impact of institutional factors on economic growth in the United States in the years 1979–2007

Oeconomia Copernicana ◽

10.12775/oec.2015.008 ◽

2015 ◽

Vol 6 (1) ◽

pp. 137 ◽

Cited By ~ 1

Author(s):

Dorota Kuder

Keyword(s):

United States ◽

Economic Growth ◽

The United States ◽

Business Environment ◽

Positive Influence ◽

Institutional Factors ◽

Working Population ◽

Proportional Increase ◽

The Impact ◽

The U.S

The purpose of this article is to isolate and determine the importance of institutional arrangements in shaping the dynamics of the U.S. GDP in the years 1979–2007. The research hypothesis which has been verified here can be summarized as follows: institutions in the U.S. economy have a positive influence on economic growth through a significant impact on improving the business environment. Having regard to the division of the economy into institutional areas: economic system, labor market, financial market, education and R&D, the author selected these institutional factors which indicated that the operation could be important for the process of economic growth in the United States, and then measured the impact in the years 1979–2007. To verify the thesis about the impact of institutions on economic growth the author used one of the most popular tools in this kind of econometric research – the multiple regression analysis. The analysis revealed that during the period of all the analyzed institutional factors it was the proportion of the working population and the degree of unionization that most strongly influenced the economic growth of the United States – an increase in one of these factors was associated with a much more than proportional increase in the rate of the economic growth.

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Are human capital, intellectual property rights, and research and development expenditures really important for total factor productivity? An empirical analysis

International Journal of Social Economics ◽

10.1108/ijse-09-2018-0472 ◽

2019 ◽

Vol 46 (6) ◽

pp. 756-774 ◽

Cited By ~ 12

Author(s):

Misbah Habib ◽

Jawad Abbas ◽

Rahat Noman

Keyword(s):

Economic Growth ◽

Human Capital ◽

Intellectual Property ◽

Property Rights ◽

Research And Development ◽

Total Factor Productivity ◽

Intellectual Property Rights ◽

Factor Productivity ◽

Content Type ◽

The Impact

Purpose The purpose of this paper is to investigate the impact of human capital (HC), intellectual property rights (IPRs) and research and development (R&D) expenditures on total factor productivity (TFP), which leads to economic growth. Design/methodology/approach The panel data technique is used on a sample of 16 countries categorized into two groups, namely Brazil, Russia, India and China (BRIC) and Central and Eastern European (CEE) countries and, in order to make a comparison for the time period of 2007–2015, the researchers used a fixed effect model as an estimation method for regression. Findings The results indicate that HC, IPRs and R&D expenditures appear to be statistically significant and are strong factors in determining changes in TFP and exhibit positive results in all sample sets. Moreover, IPRs alone do not accelerate growth in an economy, especially taking the case of emerging nations. Originality/value Considering the importance of CEE and BRIC countries, and inadequate research on these regions with respect to current study’s variables and techniques, the present research provides valuable insights about the importance of HC, IPR and R&D activities and their impact on TFP, which leads to economic growth. IPRs create a fertile environment for R&D activities, knowledge creation and economic development. Distinct nations can attain better economic status via HC, R&D activities, innovation, trade and FDI, although the relative significance of these channels is likely to differ across countries depending on their developmental levels.

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Impact Of External Shocks And Monetary Policy On Russian Economy

Voprosy Ekonomiki ◽

10.32609/0042-8736-2014-11-122-139 ◽

2014 ◽

pp. 122-139 ◽

Cited By ~ 1

Author(s):

R. Lomivorotov

Keyword(s):

Economic Growth ◽

Monetary Policy ◽

Exchange Rate ◽

Financial Markets ◽

Commodity Prices ◽

External Shocks ◽

Policy Changes ◽

Russian Economy ◽

The Impact ◽

The U.S

This paper investigates the impact of external and internal shocks on the Russian economy. We have factored in the U.S. monetary policy changes, dynamics of commodity prices, and volatility of global financial markets as the main sources of external shocks. We have also examined the influence of the monetary policy of the Bank of Russia, on economic growth, inflation, and ruble exchange rate.

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El impacto de la dolarización en el sistema económico: Caso Ecuador 2000- 2016

ECA Sinergia ◽

10.33936/eca_sinergia.v10i1.1109 ◽

2019 ◽

Vol 10 (1) ◽

pp. 38

Author(s):

Jorge Calderón Salazar ◽

Sandra Zambrano

Keyword(s):

Economic Growth ◽

Money Supply ◽

Positive Impact ◽

Monetary System ◽

Real Gdp ◽

Palabras Clave ◽

El Sistema ◽

Macroeconomic Indicators ◽

The Impact ◽

The U.S

La investigación se centró en estudiar el impacto de la dolarización en el sistema económico utilizando como instrumentos de estudio indicadores macroeconómicos de alta relevancia, mediante análisis de datos de serie de tiempo se exploraron los cambios en la inflación, el crecimiento del PIB, la oferta monetaria y la liquidez, por tal se deduce, en primer lugar, que una vez implementada la dolarización la inflación disminuyó, en segundo, el PIB real y nominal presentan estabilidad ya que ha tenido un crecimiento notable, tercero, la oferta monetaria M1 y la liquidez total M2 aumentaron, concluyendo que la dolarización generó un impacto positivo en la economía ecuatoriana sin embargo existen otros factores importantes que limitan el crecimiento económico de los últimos años como es la caída del petróleo, la apreciación del dólar, el desastre natural sucedido en el año 2016, la falta de inversión extranjera, entre otros. Palabras clave: sistema monetarios, inflación, mercado financiero y maroeconomico. ABSTRACT Research focused on the study of the impact of adopting the U.S. dollar as the official currency of Ecuador on the economic system, using highly relevant macroeconomic indicators by analysis of data of time series. It was possible to explore the changes in inflation, GDP growth, money supply and liquidity. It follows that firstly that once dollarization has been implemented inflation has declined; secondly the real GDP and Nominal growth are stable since it has had a notable economic growth; thirdly, the money supply M1 and total liquidity M2 have increased, concluding that dollarization has had a positive impact on the Ecuadorian economy, however, there are other important factors that prevent economic growth in recent years as, among others, the fall of oil prize, the dollar appreciation, natural disaster which occurred in 2016, and the lack of foreign investment. Key words: monetary system, inflation, financial market and maroeconomico.

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The Role of Expenditure on Research and Development (R&D) in Promoting Economic Growth and Competitiveness

Humanities and Social Sciences Latvia ◽

10.22364/hssl.29.1.04 ◽

2021 ◽

Vol 29 (1) ◽

pp. 68-75

Author(s):

Sandra Jekabsone ◽

◽

Ilze Sproģe ◽

Solvita Kristone

Keyword(s):

Economic Growth ◽

Research And Development ◽

Science Research ◽

Public And Private ◽

Structural Funds ◽

Research And Innovation ◽

Programming Period ◽

The Impact ◽

D Investment

Development of science and research is fundamental for economic growth, as well as the competitiveness of a country. Taking into account the potential decrease of EU funds financing and the limited amount of Latvian national financing, it is necessary to ensure that the efficiency of the use of financing is maintained and raised further. The aim of the study is to evaluate the impact of the EU funds funding activities of 2007–2013 and 2014–2020 on science, research and innovation support activities of Latvian research institutions, as well as the sustainability of the results obtained within the support activities, taking into account the measures planned to support research, development and innovation during the programming period of EU funds 2021–2027. The results of the research show that expenditure in research and development (R&D) in Latvia is small and dependent on European Structural Funds (currently R&D investments are mainly attracted by EU funds), which is not a sustainable solution for R&D development, considering that this financing and its availability are periodic and in the future. This requires consistent long-term public and private (business) R&D investment.

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The Role of Taxes in the Disconnect Between Corporate Performance and Economic Growth

Management Science ◽

10.1287/mnsc.2019.3350 ◽

2020 ◽

Vol 66 (11) ◽

pp. 5427-5447 ◽

Cited By ~ 1

Author(s):

Urooj Khan ◽

Suresh Nallareddy ◽

Ethan Rouen

Keyword(s):

Economic Growth ◽

Income Tax ◽

Corporate Performance ◽

Underlying Mechanism ◽

The United States ◽

Corporate Income Tax ◽

Tax Rate ◽

Corporate Profits ◽

The Impact ◽

The U.S

We investigate the relation between corporate performance and overall economic growth in the United States. In particular, we focus on the impact of the U.S. corporate tax regime on this relation. Exploiting time-series variation and a tax shock, we document that the relatively higher corporate income tax rate and the tax treatment of foreign earnings of U.S. corporations have contributed to a disconnect between the performance of the corporate sector and the overall economy. Specifically, the growth of domestic (national) corporate profits, on average, has outpaced the growth of the domestic (national) economy, and this disconnect increases as the difference between the U.S. corporate income tax rate and the average tax rate of the other Organisation for Economic Co-operation and Development countries increases. The underlying mechanism is fewer corporate profits being channeled into subsequent domestic investments when the U.S. tax rate is relatively higher, leading to lower economic growth. Our findings have implications for policy setters. This paper was accepted by Brian Bushee, accounting.

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