چکیده:
The relationship between research productivity and economic growth is the subject of information science which deals in this study to examine the impact of number of publications, research & development (R&D) expenditures and researchers involved in R&D activities on economic growth in the World’s largest regions for the period of 1980–2011. The study further expanded the research-growth nexus in the context of top twenty nations in terms of research output for the field of science and social sciences. The results confirmed the long-run relationship between research output and economic growth; while there is bidirectional causality between real economic growth and number of publication, in United States, Italy, Spain, Australia, India, Netherlands, Brazil, Switzerland, Taiwan, and Poland. Similarly, there is two-way causal relationship between real economic growth and R&D expenditures in USA, China, UK, Japan, India, Switzerland, Taiwan, Sweden, and Turkey. Finally, there is evident of feedback hypothesis between real economic growth and researchers involved in R&D activities in the USA, UK, Japan, South Korea, and Taiwan. The direction of causality is crucial because it has significantly policy implications for economic development.
خلاصه ماشینی:
Research Productivity and Economic Growth: A Policy Lesson Learnt from Across the Globe Khalid Zaman*1, Haroon Ur Rashid Khan2 Mehboob Ahmad3, Alamzeb Aamir4 Received: 2017, February 19 Accepted: 2017, October 14 Abstract he relationship between research productivity and economic growth isthe subject of information science which deals in this study to examinethe impact of number of publications, research development (RD) expenditures and researchers involved in RD activities on economic growth in the World’s largest regions for the period of 1980–2011.
The results confirmed the long-run relationship between research output and economic growth; while there is bidirectional causality between real economic growth and number of publication, in United States, Italy,Spain, Australia, India, Netherlands, Brazil, Switzerland, Taiwan, and Poland.
The study gathered the data from different regions of the world including East Asia Pacific (Australia, China, Japan, and Malaysia), Euro Area (Austria, Belgium, Cyprus, Ireland, and Italy), Europe Central Asia (Poland, Russia, Turkey, and Tajikistan), European Union (Czech Republic, Denmark, and Estonia), and High income OECD (UK and the USA) countries.
Table 2: Summary of the Order of Integration between Research Output and Economic Growth in the Major Regions of the World Selected World’s Region R D Expenditures Researchers in R D Number of Publications Real GDP East Asia Pacific I(1) I(0) I(1) I(1) Euro Area I(1) I(0) I(1) I(1) Europe and Central Asia I(2) I(1) I(1) I(1) European Union I(1) I(0) I(1) I(1) High Income OECD I(1) I(0) I(1) I(1) Note: I(0) shows non-stationary series at level; I(1) shows stationary series at first difference, and I(2) shows stationary series at second difference.