The Effect of R & D Expenditure on Economic Growth to Separate Sections of the Investor (Case Study of OIC Countries)
Subject Areas : Applied Economics
1 - ندارد
Keywords: Economic growth, R&, D, Panel data,
Abstract :
In the new literature, Research and Development (R&D) has an important role in economic growth. Specifically, R&D expenditures improve economic growth and fill the gap between growth of production and its factors by decreasing cost and enhancing productivity. R&D funded by different sectors and insufficient investment in one of them can be a factor for weaker economic growth in developed and developing countries In this paper, we have analyzed the effect of R&D expenditures on economic growth of OIC countries. For this, we have separated investment sectors according to endogenous growth model and then employed panel data method during time period 1998-2009. Based on obtained results, R&D expenditures by government, higher education, non-profit organizations, and business enterprise have positive and significant effect on economic growth.
