 Heterogeneous effect of high-tech industrial R&D spending on economic growthDavid Han-Min Wang, Tiffany Hui-Kuang Yu and Hong-Quan Liu Journal of Business Research, 2013, vol. 66, issue 10, 1990-1993 Abstract: 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. Keywords: Economic growth; High-tech industry; Quantile regression; R&D investment (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:jbrese:v:66:y:2013:i:10:p:1990-1993 DOI: 10.1016/j.jbusres.2013.02.023 Access Statistics for this article Journal of Business Research is currently edited by A. G. Woodside More articles in Journal of Business Research from Elsevier |
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