Research Effort and Economic Growth

Weshah Razzak

No 2002, Discussion Papers from School of Economics and Finance, Massey University, New Zealand

Abstract: Total factor productivity growth (TFP) is positively related to the growth rate in effective research efforts. At the macro level, research effort is the nonlinear product of human capital and the number of people engaged in research activity. The rate of return on human capital is positive across the G7 countries. However, the rate of return on the number of researcher is negative in all countries except the U.S. thus; there is a decreasing return to scale in the production of new ideas.

Keywords: TFP Growth; Research Efforts; Education; Human Capital; Useful Knowledge (search for similar items in EconPapers)
JEL-codes: O40 O47 (search for similar items in EconPapers)
Pages: 8 pages
Date: 2020
New Economics Papers: this item is included in nep-gro, nep-ino and nep-knm
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Related works:
Journal Article: Research Effort and Economic Growth (2023)
Working Paper: Research Effort and Economic Growth (2022)
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