Japan's productivity and GDP growth: The role of GBAORD, public and foreign R&D

Thomas Ziesemer ()

No 2019-029, MERIT Working Papers from United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT)

Abstract: We analyse the dynamic interaction of Japan's total factor productivity (TFP), GDP, domestic and foreign private and public R&D as well as mission-oriented R&D, GBAORD, in a cointegrated VAR for Japan with data from 1988-2014. Analysis of effects of permanent shocks shows that (i) public R&D, unlike GBAORD, encourages private R&D and TFP, and has high internal rates of return. (ii) Japan's public and private R&D have a statistically significant positive effect on foreign private and public R&D stocks and vice versa. (iii) After transitory GDP shocks, public and private R&D are counter-cyclical and GBAORD is pro-cyclical in Japan.

Keywords: R&D; productivity; growth; spillovers; vector-auto-regression (VAR) (search for similar items in EconPapers)
JEL-codes: F43 O19 O47 O53 (search for similar items in EconPapers)
Date: 2019-09-11
New Economics Papers: this item is included in nep-eff, nep-ino and nep-sbm
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:unm:unumer:2019029

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