Exploring the link between research and economic growth : an empirical study of China and USA

Kumar, Ronald Ravinesh ORCID: 0000-0001-9658-4896, Stauvermann, Peter J. and Patel, Arvind (2016) Exploring the link between research and economic growth : an empirical study of China and USA. Quality & Quantity, 50 (3). pp. 1073-1091. ISSN 0033-5177

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Official URL: http://link.springer.com/article/10.1007%2Fs11135-...

Abstract

In this paper, we explore the link between scientific and technical research and economic growth in China and USA over the sample period 1981–2012 using the extended Cobb–Douglas model with capital per worker and the quantity of scientific and technical journal articles (research publications) per worker. We examine the cointegration relationship and present the short-run and long-run results using the autoregressive distributed lag bounds procedure. Further, we examine the direction of causality between research publications per worker results and economic growth variables using the Toda and Yamamoto (J Econom 66(1–2):225–250, 1995) procedure. Our results indicate for both countries research publications per worker positively influence the output per worker both in the short-run and the long-run. The causality results for China indicate a bi-directional causality between research publications per worker and output per worker, duly emphasizing the mutually reinforcing effect. In case of USA, we note a unidirectional causation output per worker to research publications per worker indicating that output Granger cause research publications.

Item Type: Article
Additional Information: Research publications, Scientific and technical journal articles, Economic growth, China, USA
Divisions: Institute of Management > Bolton Business School
Depositing User: Tracey Gill
Date Deposited: 16 May 2016 18:23
Last Modified: 08 Mar 2018 12:03
Identification Number: 10.1007/s11135-015-0191-3
URI: http://ubir.bolton.ac.uk/id/eprint/867

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