Heterogeneous effect of high-tech industrial R&D spending on economic growth
Empirical evidence has suggested that R&D investment is positively related to economic growth. This paper extends prior research by further examining the heterogeneous effects of R&D expenditures in the high-tech sector on economic growth. This study adopts a quantile regression approach to...
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| Veröffentlicht in: | Journal of business research 2013-10, Vol.66 (10), p.1990-1993 |
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| container_end_page | 1993 |
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| container_issue | 10 |
| container_start_page | 1990 |
| container_title | Journal of business research |
| container_volume | 66 |
| creator | Wang, David Han-Min Yu, Tiffany Hui-Kuang Liu, Hong-Quan |
| description | Empirical evidence has suggested that R&D investment is positively related to economic growth. This paper extends prior research by further examining the heterogeneous effects of R&D expenditures in the high-tech sector on economic growth. This study adopts a quantile regression approach to explore the marginal effect of R&D expenditures in the high-tech sector across different quantiles of the conditional GDP distribution for 23 OECD countries and Taiwan during 1991–2006. Empirical evidences show that the impacts of R&D expenditures in the high-tech sector are heterogeneous across levels of per capita income. High-tech industrial R&D spending has a strong positive effect on GDP per capita at the highest quantile of the distribution. However, all sectors' R&D spending relative to GDP is subject to significant negative returns only when considering the middle income countries. The study provides a more comprehensive understanding of the correlation between R&D investment and economic growth. |
| doi_str_mv | 10.1016/j.jbusres.2013.02.023 |
| format | Article |
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This paper extends prior research by further examining the heterogeneous effects of R&D expenditures in the high-tech sector on economic growth. This study adopts a quantile regression approach to explore the marginal effect of R&D expenditures in the high-tech sector across different quantiles of the conditional GDP distribution for 23 OECD countries and Taiwan during 1991–2006. Empirical evidences show that the impacts of R&D expenditures in the high-tech sector are heterogeneous across levels of per capita income. High-tech industrial R&D spending has a strong positive effect on GDP per capita at the highest quantile of the distribution. However, all sectors' R&D spending relative to GDP is subject to significant negative returns only when considering the middle income countries. 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This paper extends prior research by further examining the heterogeneous effects of R&D expenditures in the high-tech sector on economic growth. This study adopts a quantile regression approach to explore the marginal effect of R&D expenditures in the high-tech sector across different quantiles of the conditional GDP distribution for 23 OECD countries and Taiwan during 1991–2006. Empirical evidences show that the impacts of R&D expenditures in the high-tech sector are heterogeneous across levels of per capita income. High-tech industrial R&D spending has a strong positive effect on GDP per capita at the highest quantile of the distribution. However, all sectors' R&D spending relative to GDP is subject to significant negative returns only when considering the middle income countries. The study provides a more comprehensive understanding of the correlation between R&D investment and economic growth.]]></description><subject>Economic growth</subject><subject>GDP</subject><subject>Gross Domestic Product</subject><subject>High tech industries</subject><subject>High-tech industry</subject><subject>Manycountries</subject><subject>OECD</subject><subject>Quantile regression</subject><subject>R&D investment</subject><subject>Regression analysis</subject><subject>Research & development expenditures</subject><subject>Research and development</subject><subject>Studies</subject><subject>Taiwan</subject><issn>0148-2963</issn><issn>1873-7978</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2013</creationdate><recordtype>article</recordtype><recordid>eNqFkF9LwzAUxYMoOKcfQQgI4kvrTdOm6ZOI_yYMBNHnkKW3XcrWzKRV_PZmbk--CBcuXM453PMj5JxByoCJ6y7tFmPwGNIMGE8hi8MPyITJkidlVcpDMgGWyySrBD8mJyF0AJAByAmZz3BA71rs0Y2BYtOgGahr6NK2y2RAs6S2r8cweKtX9PXynoYN9rXtW-p6isb1bm0Nbb37Gpan5KjRq4Bn-z0l748Pb3ezZP7y9Hx3O09MDmxIpBGFRiizhi9K4BwFy5kUtRZFXrNKG91UUOsCRCWKMl8UQrB4awRfsCoW4VNytcvdePcxYhjU2gaDq5X-baFYnkteZhVUUXrxR9q50ffxO8W4KLJS8kJGVbFTGe9CJNmojbdr7b8VA7VlrDq1Z6y2jBVkcXj03ex8GNt-WvQqGIu9wdr6yFHVzv6T8AOD7YaO</recordid><startdate>20131001</startdate><enddate>20131001</enddate><creator>Wang, David Han-Min</creator><creator>Yu, Tiffany Hui-Kuang</creator><creator>Liu, Hong-Quan</creator><general>Elsevier Inc</general><general>Elsevier Sequoia S.A</general><scope>AAYXX</scope><scope>CITATION</scope><scope>8BJ</scope><scope>FQK</scope><scope>JBE</scope></search><sort><creationdate>20131001</creationdate><title>Heterogeneous effect of high-tech industrial R&D spending on economic growth</title><author>Wang, David Han-Min ; Yu, Tiffany Hui-Kuang ; Liu, Hong-Quan</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c401t-8c65ae072f3b7033e614186da654d19acaf90da50696574b5661caff63b190143</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2013</creationdate><topic>Economic growth</topic><topic>GDP</topic><topic>Gross Domestic Product</topic><topic>High tech industries</topic><topic>High-tech industry</topic><topic>Manycountries</topic><topic>OECD</topic><topic>Quantile regression</topic><topic>R&D investment</topic><topic>Regression analysis</topic><topic>Research & development expenditures</topic><topic>Research and development</topic><topic>Studies</topic><topic>Taiwan</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Wang, David Han-Min</creatorcontrib><creatorcontrib>Yu, Tiffany Hui-Kuang</creatorcontrib><creatorcontrib>Liu, Hong-Quan</creatorcontrib><collection>CrossRef</collection><collection>International Bibliography of the Social Sciences (IBSS)</collection><collection>International Bibliography of the Social Sciences</collection><collection>International Bibliography of the Social Sciences</collection><jtitle>Journal of business research</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Wang, David Han-Min</au><au>Yu, Tiffany Hui-Kuang</au><au>Liu, Hong-Quan</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>Heterogeneous effect of high-tech industrial R&D spending on economic growth</atitle><jtitle>Journal of business research</jtitle><date>2013-10-01</date><risdate>2013</risdate><volume>66</volume><issue>10</issue><spage>1990</spage><epage>1993</epage><pages>1990-1993</pages><issn>0148-2963</issn><eissn>1873-7978</eissn><abstract><![CDATA[Empirical evidence has suggested that R&D investment is positively related to economic growth. This paper extends prior research by further examining the heterogeneous effects of R&D expenditures in the high-tech sector on economic growth. This study adopts a quantile regression approach to explore the marginal effect of R&D expenditures in the high-tech sector across different quantiles of the conditional GDP distribution for 23 OECD countries and Taiwan during 1991–2006. Empirical evidences show that the impacts of R&D expenditures in the high-tech sector are heterogeneous across levels of per capita income. High-tech industrial R&D spending has a strong positive effect on GDP per capita at the highest quantile of the distribution. However, all sectors' R&D spending relative to GDP is subject to significant negative returns only when considering the middle income countries. 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| fulltext | fulltext |
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| ispartof | Journal of business research, 2013-10, Vol.66 (10), p.1990-1993 |
| issn | 0148-2963 1873-7978 |
| language | eng |
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| source | ScienceDirect Journals (5 years ago - present) |
| subjects | Economic growth GDP Gross Domestic Product High tech industries High-tech industry Manycountries OECD Quantile regression R&D investment Regression analysis Research & development expenditures Research and development Studies Taiwan |
| title | Heterogeneous effect of high-tech industrial R&D spending on economic growth |
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