Does Research and Development Expenditure Co-integrate with Gross National Income of ASEAN Countries?

Fen Nee Chong, Venus Liew and Rosita Suhaimi

MPRA Paper from University Library of Munich, Germany

Abstract: In order to successfully transform into a knowledge economy and eradicate poverty, many ASEAN countries have allocated a considerable amount of their yearly expenditures in research and development over the last decade. The objective of this paper is to examine the long-run relationship between research and development expenditure and gross national income of five major ASEAN countries – Thailand, Malaysia, Singapore, Indonesia and Philippines. The results of a cross-country panel data analysis performed in this study suggest that there is a long-run cointegration relationship between these two variables. Findings imply that higher research and development expenditure has a favorable impact on the long-run prosperity of these countries.

Keywords: Research and development expenditure; Gross national income. (search for similar items in EconPapers)
JEL-codes: E01 (search for similar items in EconPapers)
Date: 2016
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Published in International Journal of Economic Research, 3.33(2016): pp. 1231-1237

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:107981

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