Endogenous dynamics between R&D, ICT and economic growth: Empirical evidence from the OECD countries

Mahendhiran Nair, Rudra P. Pradhan and Mak Arvin

Technology in Society, 2020, vol. 62, issue C

Abstract: Intensification of research and development (R&D) and the information and communication technology (ICT) infrastructure have been regarded as important drivers for sustained economic growth across the globe. In this study, using a panel vector autoregressive model, we examine the endogenous relationships between R&D, ICT infrastructure development and economic growth in the OECD countries between 1961 and 2018. The empirical results show that both R&D and ICT infrastructure development contribute to long-term economic growth in the OECD countries. The short-run dynamics show that complex inter-relationships between these variables exist. The key insight from this study is that to attain sustained economic growth, policymakers in the OECD economies should put in place an integrated framework that takes into consideration co-development policies pertaining to R&D investment, ICT diffusion and economic growth-enhancing initiatives.

Keywords: R&D; ICT infrastructure; Economic growth; OECD countries (search for similar items in EconPapers)
JEL-codes: E31 E44 O16 O43 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (49)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:teinso:v:62:y:2020:i:c:s0160791x19306669

DOI: 10.1016/j.techsoc.2020.101315

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