DOES PUBLIC R&D CROWD OUT PRIVATE R&D? A NOTE FROM TAIWAN, ROC

Yemane Wolde-Rufael ()
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Yemane Wolde-Rufael: Camden Strategy Unit

Journal of Economic Development, 2009, vol. 34, issue 1, 59-69

Abstract: This paper tests the cointegration and causal relationship between aggregate public R&D and private R&D for Taiwan for the period 1979-2007 using a newly developed cointegration test proposed by Pesaran et al. (2001) and using a modified version of the Granger causality test due to Toda and Yamamoto (1995). The paper finds a long run cointegrating relationship between public and private R&D and a bi-directional causality where they complement each other. The Government of the ROC should continue to invest not only to stimulate private R&D but also to enable the country to compete more globally in technology-intensive products.

Keywords: Taiwan; Public and Private R&D; Bounds Test; Causality; Impulse Response (search for similar items in EconPapers)
JEL-codes: C22 O32 (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:jed:journl:v:34:y:2009:i:1:p:59-69

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