Research Productivity and Economic Growth: A Policy Lesson Learnt from Across the Globe

Khalid Zaman (), Haroon Ur Rashid Khan (), Mehboob Ahmad () and Alamzeb Aamir ()
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Khalid Zaman: Department of Economics, University of Wah, Quaid Avenue, Wah Cantt, Pakistan.
Haroon Ur Rashid Khan: School of Finance, College of Business and Public Management, Kean University, NJ, USA, Wenzhou-Kean University Campus, Wenzhou, PR China.
Mehboob Ahmad: Department of Management Sciences, Shaheed Zulfikar Ali Bhutto Institute of Science and Technology (SZABIST), Islamabad Campus, Pakistan.
Alamzeb Aamir: Department of Management Sciences, FATA University, F.R. Kohat, Pakistan.

Iranian Economic Review (IER), 2018, vol. 22, issue 3, 627-641

Abstract: The relationship between research productivity and economic growth is the subject of information science which deals in this study to examine the impact of number of publications, research & development (R&D) expenditures and researchers involved in R&D activities on economic growth in the World’s largest regions for the period of 1980–2011. The study further expanded the research-growth nexus in the context of top twenty nations in terms of research output for the field of science and social sciences. The results confirmed the long-run relationship between research output and economic growth; while there is bidirectional causality between real economic growth and number of publication, in United States, Italy, Spain, Australia, India, Netherlands, Brazil, Switzerland, Taiwan, and Poland. Similarly, there is two-way causal relationship between real economic growth and R&D expenditures in USA, China, UK, Japan, India, Switzerland, Taiwan, Sweden, and Turkey. Finally, there is evident of feedback hypothesis between real economic growth and researchers involved in R&D activities in the USA, UK, Japan, South Korea, and Taiwan. The direction of causality is crucial because it has significantly policy implications for economic development.

Keywords: Research Output; Economic Growth; Time Series Analysis; Granger Causality; World’s Region. (search for similar items in EconPapers)
Date: 2018
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