ICT Diffusion, R&D Intensity, and Economic Growth: a Dynamic Panel Data Approach
Bahar Bayraktar Sağlam ()
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Bahar Bayraktar Sağlam: Hacettepe University
Journal of the Knowledge Economy, 2018, vol. 9, issue 2, No 15, 636-648
Abstract Using panel data of 34 Organization for Economic Co-operation and Development (OECD) countries from 1990 to 2012, this article investigates the intricate link among ICT diffusion, R&D intensity, and economic growth by employing Panel VAR techniques. The novelty of this paper is to identify the causality channels among R&D, ICTs, and economic growth. Econometric evidence yields that bi-directional causality takes place between ICTs and economic growth. While ICT diffusion leads to a rise in the share of R&D personnel in total employment, it has no causal impact on the share of income devoted to R&D. In this context, empirical results offer that OECD countries need to support the development of ICTs not only to foster economic growth but also to enhance the R&D sector.
Keywords: Economic growth; Information and communication technologies; R&D; Dynamic panel data (search for similar items in EconPapers)
JEL-codes: O3 C3 (search for similar items in EconPapers)
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