Trade, R&D spending and financial development

Yuanchen Chang, Mao-Wei Hung and Chiuling Lu

Applied Financial Economics, 2005, vol. 15, issue 11, 809-819

Abstract: This paper assesses the importance of financial development and R&D spending for exports using both a theoretical model and econometric testing. It is shown that financial development and R&D expenditures are positively related to exports and the balance of manufactured goods. The results suggest that countries that want to increase their exports should invest more in R&D activities and increase the priority of their financial reforms.

Date: 2005
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DOI: 10.1080/09603100500077102

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