The Contribution of Research and Development Investments by Sectors to GDP growth

Takashi Obinata
Additional contact information
Takashi Obinata: The University of Tokyo, Graduate School of Economics

No CARF-J-105, CARF J-Series from Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo

Abstract: This Paper investigates the relationship between the growth in research and development investments (R&Ds) and GDP growth, focusing on the sector of execution. By the vector error correction model (VECM), the result shows that R&Ds by business enterprises do not contribute to GDP growth in Japan. However, the growth in R&Ds by universities gives significant positive effects to both GDP growth and the growth in R&Ds of business enterprises sector. According to the U.S. data, the opposite results are observed. While R&Ds by business enterprises contribute to GDP growth, those of universities have no effects on both GDP growth and the R&Ds by business enterprises. Another Estimation by a Structural Equation Model (SEM) gives the robust results, showing that the growth in R&Ds by universities contributes to GDP growth in Japan.

Pages: 60 pages
Date: 2016-06
New Economics Papers: this item is included in nep-cse and nep-sbm
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.carf.e.u-tokyo.ac.jp/pdf/workingpaper/jseries/J105.pdf (application/pdf)

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:cfi:jseres:cj105

Access Statistics for this paper

More papers in CARF J-Series from Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo Contact information at EDIRC.
Bibliographic data for series maintained by ().