Dating the Business Cycles: Research and Development (R&D) Expenditures and New Knowledge Creation in OECD Economies over the Business Cycles

Manzoor Ahmad (), Zahoor Ul Haq, Javed Iqbal and Shehzad Khan
Additional contact information
Zahoor Ul Haq: Pakhtunkhwa Economic Policy Research Institute (PEPRI), Faculty of Business and Economics, Abdul Wali Khan University Mardan
Javed Iqbal: Pakhtunkhwa Economic Policy Research Institute (PEPRI), Faculty of Business and Economics, Abdul Wali Khan University Mardan
Shehzad Khan: Abdul Wali Khan University Mardan

Journal of the Knowledge Economy, 2023, vol. 14, issue 4, No 15, 3929-3973

Abstract: Abstract This study presents a chronology of OECD business cycles for the period 1983–2019. The findings showed that the OECD economies had experienced a total of ten economic boom and recession periods. The average duration of recession and boom periods was 5.9 quarters and 6.8 quarters, respectively. The lengthiest boom and recession periods in the OECD economies occurred from 1985Q1–1987Q4 and 2003Q1–2005Q3, respectively. The average decrease in research and development expenditures during recession periods was smaller than the average increase in research and development expenditures during the boom periods. The two completed research and development expenditures cycles in the OECD states included the ten-quarter peak-peak and nine-quarter trough-trough cycles. The amplitude (percent change) measure indicated that the average increase in research and development expenditures during expansions (about 4.7%) was substantially larger than the average decrease during recession periods (about 4.4%). The results also showed a negative skewness in research and development expenditures, indicating that there were slightly more significant downward spikes (rather than upward) in research and development expenditures.

Keywords: R&D expenditures; Innovation; Business cycles; Amplitude; OECD (search for similar items in EconPapers)
Date: 2023
References: Add references at CitEc
Citations:

Downloads: (external link)
http://link.springer.com/10.1007/s13132-022-01018-6 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

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:spr:jknowl:v:14:y:2023:i:4:d:10.1007_s13132-022-01018-6

Ordering information: This journal article can be ordered from
http://www.springer.com/economics/journal/13132

DOI: 10.1007/s13132-022-01018-6

Access Statistics for this article

Journal of the Knowledge Economy is currently edited by Elias G. Carayannis

More articles in Journal of the Knowledge Economy from Springer, Portland International Center for Management of Engineering and Technology (PICMET)
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().