R&D Spending and Economic Growth in Selected OECD Countries

Arash Ketabforoush Badri (), Parsa Ketabforoush Badri () and Mostafa Cham ()

International Journal of Applied Economics, Finance and Accounting, 2019, vol. 5, issue 2, 48-54

Abstract: R&D is one of the important factors affecting economic growth. Increased use of R&D will increase competition in manufacturing sectors, which will have a positive impact on the economy, improving product quality and diversity and improving productivity, which will increase production itself. The purpose of this study is to investigate the effects of R&D spending on economic growth using the GMM method for the 15 selected OECD countries from 2012 to 2018. The estimation results show that R&D has had a positive and significant effect on economic growth in the countries studied. Also, GDP of the last year, exchange rate and tax have had a positive impact on economic growth.

Keywords: R&D spending; Economic growth; GMM method. (search for similar items in EconPapers)
Date: 2019
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