English, Article, Journal or magazine article edition: Research and development (R&D) and development Lederman, Daniel; Maloney, William F.

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Bookmark: http://trove.nla.gov.au/version/115606
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Research and development (R&​D) and development
Author
  • Lederman, Daniel
  • Maloney, William F.
Physical Description
  • preprint
Notes
  • Lederman and Maloney trace the evolution of research and development (R&​D) expenditures along the development process using a new global panel data set. They show that R&​D effort measured as a share of GDP rises with development at an increasing rate. The authors examine how four groups of countries from Latin America, Asia, advanced manufacturing exporters, and advanced natural resource-abundant countries fare relative to the predicted development trajectory. Latin America generally underperforms as do some countries in Asia and Europe, but their striking finding is that some-Finland, Israel, the Republic of Korea, and Taiwan (China)-have radically deviated from the predicted trajectory and displayed impressive R&​D takeoffs. The authors ask whether these countries overinvest in R&​D but find that the high estimates of the social rates of return probably justify this effort. Moreover, the returns to R&​D decline with per capita GDP. The authors attempt to explain why rich countries invest more in R&​D than poor countries. They conclude that financial depth, protection of intellectual property rights, government capacity to mobilize resources, and the quality of research institutions are the main reasons why R&​D efforts rise with the level of development.
  • Scientific Research&​Science Parks,Economic Theory&​Research,Environmental Economics&​Policies,Decentralization,Agricultural Knowledge&​Information Systems,Economic Theory&​Research,Science Education,Scientific Research&​Science Parks,Environmental Economics&​Policies,Education and Digital Divide
  • RePEc:wbk:wbrwps:3024
Language
  • English
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