DOES SCIENTIFIC AND TECHNICAL RESEARCH REDUCE MACROECONOMIC VOLATILITY?

Sam Hak Kan Tang

Bulletin of Economic Research, 2018, vol. 70, issue 1, E68-E88

Abstract: This paper explores whether conducting scientific and technical (S&T) research reduces the volatility of output growth. The paper finds robust evidence that output volatility is significantly lowered by a country's production of S&T publications. The results show that the effect of S&T publications on output volatility is particularly strong in middle†income, OECD and other high†income countries. However, for East†Asian, low†income and sub†Saharan African countries the effect is either weak or absent. These results provide strong evidence that not only OECD and other high†income countries are actively engaged in S&T research, emerging developing countries are also conducting S&T research, which is effective in reducing output volatility. The results are robust to adding a host of control variables, various subsamples and different estimation techniques.

Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://doi.org/10.1111/boer.12129

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:buecrs:v:70:y:2018:i:1:p:e68-e88

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0307-3378

Access Statistics for this article

More articles in Bulletin of Economic Research from Wiley Blackwell
Bibliographic data for series maintained by Wiley Content Delivery ().