THE IMPACT OF RESEARCH AND DEVELOPMENT EXPENDITURES ON ESG MODEL IN THE GLOBAL ECONOMY

Alberto Costantiello () and Angelo Leogrande

No xy6ew, SocArXiv from Center for Open Science

Abstract: We estimate the value of Research and Development Expenditures as a percentage of GDP-RDE in the context of Environmental, Social and Governance-ESG model. We use the ESG World Bank database. We analyze data from193 countries in the period 2011-2020. We apply a set of econometric techniques i.e. Pooled Ordinary Least Squares-OLS, Panel Data with Random Effects, Panel Data with Fixed Effects, Weighted Least Squares-WLS. We found that the level of RDE is positively associated, among others, to “Nitrous Oxide Emissions” and “Scientific and Technical Journal Articles”, and negatively associated, among others to “Heat Index 35”, “Maximum 5-day Rainfall”. Furthermore, we perform a cluster analysis with the application of the k-Means algorithm optimized with the Elbow Method. The results show the presence of four clusters. Finally, we confront eight different machine-learning algorithms to predict the future value of RDE. We find that Linear Regression is the best predictive algorithms. RDE is expected to growth on average of 0.07% for the analysed countries.

Date: 2023-11-26
New Economics Papers: this item is included in nep-env
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Related works:
Working Paper: The Impact of Research and Development Expenditures on ESG Model in the Global Economy (2023)
Working Paper: The Impact of Research and Development Expenditures on ESG Model in the Global Economy (2023)
Working Paper: The Impact of Research and Development Expenditures on ESG Model in the Global Economy (2023)
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Persistent link: https://EconPapers.repec.org/RePEc:osf:socarx:xy6ew

DOI: 10.31219/osf.io/xy6ew

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