R&D Spending and Economic Growth in Selected OECD Countries

  • Arash Ketabforoush Badri Department of Economic, Faculty of Management and Accounting, Qazvin Islamic Azad University, Iran.
  • Parsa Ketabforoush Badri Faculty of Management, Tabriz University, Tabriz, Iran.
  • Mostafa Cham Faculty of Information Technology and Computer Engineering, Azarbaijan Shahid Madani University, Iran.

Abstract

R&D is one of the important factors affecting economic growth. Increased use of R&D will increase competition in manufacturing sectors, which will have a positive impact on the economy, improving product quality and diversity and improving productivity, which will increase production itself. The purpose of this study is to investigate the effects of R&D spending on economic growth using the GMM method for the 15 selected OECD countries from 2012 to 2018. The estimation results show that R&D has had a positive and significant effect on economic growth in the countries studied. Also, GDP of the last year, exchange rate and tax have had a positive impact on economic growth.
Keywords: R&D spending, Economic growth, GMM method.
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How to Cite
Badri, A. K., Badri, P. K., & Cham, M. (2019, October 29). R&D Spending and Economic Growth in Selected OECD Countries. International Journal of Applied Economics, Finance and Accounting, 5(2), 48-54. https://doi.org/https://doi.org/10.33094/8.2017.2019.52.48.54
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