Spillover Effects of Research and Development Activity on the Economic Growth and Exports of the Group 20

World Review of Entrepreneurship, Management and Sustainable Development, Vol. 13, Nos. 5-6, pp. 560-579, 2017; DOI: 10.1504/WREMSD.2017.086303

Posted: 20 Dec 2017 Last revised: 22 Dec 2017

See all articles by Jung Wan Lee

Jung Wan Lee

Boston University - Department of Administrative Sciences

Kip Becker

Boston University - Department of Administrative Sciences

Date Written: April 24, 2017

Abstract

The study examines the spillover effects of research and development (R&D) activity on the economic and export growth of the Group 20. It explores the magnitude of the strategic relationship between R&D activity and the economic performance of these countries. The sample is restricted to the period of time for which annual data are available and comparable, which is the period from 1988 to 2011, for 19 countries in the Group 20. A panel cointegration test and several types of panel data analytic models were employed. Although some differences were found in the magnitude of the effect, this study indicates that R&D activity must be viewed as a major strategic determinant for the economic performance of the countries, and thus as the creator of unique competitive advantages for them. It is also noteworthy that human capital and information technology are positively associated with the economic performance of the countries.

Keywords: R&D Activity, Economic Performance, Information Technology, ICT, Human Capital, Economic Growth, Exports, Competitive Advantage

Suggested Citation

Lee, Jung Wan and Becker, Kip, Spillover Effects of Research and Development Activity on the Economic Growth and Exports of the Group 20 (April 24, 2017). World Review of Entrepreneurship, Management and Sustainable Development, Vol. 13, Nos. 5-6, pp. 560-579, 2017; DOI: 10.1504/WREMSD.2017.086303. Available at SSRN: https://ssrn.com/abstract=3089068

Jung Wan Lee (Contact Author)

Boston University - Department of Administrative Sciences ( email )

808 Commonwealth Avenue
Boston, MA 02215
United States
617 358 5627 (Phone)
617 353 6840 (Fax)

HOME PAGE: http://www.bu.edu/met

Kip Becker

Boston University - Department of Administrative Sciences ( email )

United States

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