 Causal relationship between ICT R&D investment and economic growth in KoreaJae-pyo Hong Technological Forecasting and Social Change, 2017, vol. 116, issue C, 70-75 Abstract: This study examined the Granger-causality between R&D investment and economic growth for Korea's ICT industry. Bidirectional Granger-causality was observed between ICT R&D investment and economic growth, and this result implies that ICT R&D investment is driven by economic growth and vice versa. When ICT R&D investment was classified into public sector and private sector, the results showed the private ICT R&D investment had stronger relationship with economic growth compared to public the ICT R&D investment. It means the private ICT R&D investment has stronger attribute of leading economic growth and induced investment by economic growth than the Public ICT R&D investment. The results also reported bidirectional causality between public ICT R&D investment and private ICT R&D investment. The establishment of two-way Granger-causality between public sector and private sector indicates a virtuous cycle has taken hold. Keywords: Vector error correction model; R&D investment; Economic growth; ICT industry; Korea (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:tefoso:v:116:y:2017:i:c:p:70-75 DOI: 10.1016/j.techfore.2016.11.005 Access Statistics for this article Technological Forecasting and Social Change is currently edited by Fred Phillips More articles in Technological Forecasting and Social Change from Elsevier |
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