ICT Diffusion, R&D Intensity, and Economic Growth: a Dynamic Panel Data Approach

ICT Diffusion, R&D Intensity, and Economic Growth: a Dynamic Panel Data Approach Using panel data of 34 Organization for Economic Co-operation and Development (OECD) countries from 1990 to 2012, this article investigates the intricate link among ICT diffusion, R&D intensity, and economic growth by employing Panel VAR techniques. The novelty of this paper is to identify the causality channels among R&D, ICTs, and economic growth. Econometric evidence yields that bi-directional causality takes place between ICTs and economic growth. While ICT diffusion leads to a rise in the share of R&D personnel in total employment, it has no causal impact on the share of income devoted to R&D. In this context, empirical results offer that OECD countries need to support the development of ICTs not only to foster economic growth but also to enhance the R&D sector. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of the Knowledge Economy Springer Journals

ICT Diffusion, R&D Intensity, and Economic Growth: a Dynamic Panel Data Approach

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Publisher
Springer Journals
Copyright
Copyright © 2016 by Springer Science+Business Media New York
Subject
Economics; Political Economy/Economic Policy; R & D/Technology Policy; Entrepreneurship
ISSN
1868-7865
eISSN
1868-7873
D.O.I.
10.1007/s13132-016-0353-0
Publisher site
See Article on Publisher Site

Abstract

Using panel data of 34 Organization for Economic Co-operation and Development (OECD) countries from 1990 to 2012, this article investigates the intricate link among ICT diffusion, R&D intensity, and economic growth by employing Panel VAR techniques. The novelty of this paper is to identify the causality channels among R&D, ICTs, and economic growth. Econometric evidence yields that bi-directional causality takes place between ICTs and economic growth. While ICT diffusion leads to a rise in the share of R&D personnel in total employment, it has no causal impact on the share of income devoted to R&D. In this context, empirical results offer that OECD countries need to support the development of ICTs not only to foster economic growth but also to enhance the R&D sector.

Journal

Journal of the Knowledge EconomySpringer Journals

Published: Jan 26, 2016

References

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