Economic growth and R&D investment: An empirical analysis of Russian regions

A. Raetskiy and Dmitrii Tereshchenko
Additional contact information
A. Raetskiy: Independent researcher, Saint Petersburg, Russia

Journal of the New Economic Association, 2025, vol. 67, issue 2, 46-64

Abstract: Investment in R&D is a major driver of economic growth. Its impact on economic growth is formed from the direct effect and spillover effect, due to which investments in a particular region affect the development of nearby regions. The paper employs real GRP and R&D capital stock as indicators of economic growth and investment in R&D. Real GRP and R&D capital stock are estimated using the perpetual inventory method. To obtain quantitative estimates, static and dynamic spatial Durbin models are applied on Rosstat panel data for 76 Russian regions in the period 2001-2021. Models are estimated via quasi-maximum likelihood. The results indicate the presence of both short-term and long-term direct impact of R&D capital on real GRP. At the same time, only several model specifications indicate the presence of a spillover effect. This result coincides with previous studies that noted weak linkages between Russian regions and insufficient efficiency of the Russian R&D sector.

Keywords: economic growth; R&D; Russian regions; spatial econometrics; spillovers (search for similar items in EconPapers)
JEL-codes: O11 O32 O33 (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.econorus.org/repec/journl/2025-67-46-64r.pdf (application/pdf)

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:nea:journl:y:2025:i:67:p:46-64

DOI: 10.31737/22212264_2025_2_46-64

Access Statistics for this article

Journal of the New Economic Association is currently edited by Victor Polterovich and Aleksandr Rubinshtein

More articles in Journal of the New Economic Association from New Economic Association Contact information at EDIRC.
Bibliographic data for series maintained by Alexey Tcharykov ().