Public R&D expenditure and private R&D expenditure: a causality analysis

Seung-Hoon Yoo ()

Applied Economics Letters, 2004, vol. 11, issue 11, 711-714

Abstract: This paper examines the long-run and short-run causality issues between public R&D expenditure and private R&D expenditure in Korea by using the cointegration and error-correction models. The overall results show that there exists bidirectional causality between public R&D expenditure and private R&D expenditure. This means that increasing public R&D expenditure has a direct effect on private R&D expenditure and vice versa.

Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:taf:apeclt:v:11:y:2004:i:11:p:711-714

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DOI: 10.1080/1350485042000236575

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