About: Research & development and growth: A Bayesian model averaging analysis

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An Entity of Type : http://linked.opendata.cz/ontology/domain/vavai/Vysledek, within Data Space : linked.opendata.cz associated with source document(s)

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rdf:type	skos:Concept http://linked.opendata.cz/ontology/domain/vavai/Vysledek
Description	We examine the effect of research and development (R&D) on long-term economic growth using the Bayesian model averaging (BMA) to deal rigorously with model uncertainty. Previous empirical studies, which applied BMA, investigated the effect of dozens of regressors on long-term growth, but they did not examine the effect of R&D due to data unavailability. We extend these studies by proposing to capture the investment in R&D by the number of Nobel prizes in science. Using our indicator, the estimates show that R&D exerts a positive effect on long-term growth. This result is robust to many different parameter and model prior structures as well as to alternative definitions of R&D indicator. We examine the effect of research and development (R&D) on long-term economic growth using the Bayesian model averaging (BMA) to deal rigorously with model uncertainty. Previous empirical studies, which applied BMA, investigated the effect of dozens of regressors on long-term growth, but they did not examine the effect of R&D due to data unavailability. We extend these studies by proposing to capture the investment in R&D by the number of Nobel prizes in science. Using our indicator, the estimates show that R&D exerts a positive effect on long-term growth. This result is robust to many different parameter and model prior structures as well as to alternative definitions of R&D indicator. (en)
Title	Research & development and growth: A Bayesian model averaging analysis Research & development and growth: A Bayesian model averaging analysis (en)
skos:prefLabel	Research & development and growth: A Bayesian model averaging analysis Research & development and growth: A Bayesian model averaging analysis (en)
skos:notation	RIV/67985556:_____/11:00364038!RIV12-AV0-67985556
http://linked.open...avai/riv/aktivita	P Z
http://linked.open...avai/riv/aktivity	P(GA402/09/0965), Z(AV0Z10750506), Z(MSM0021620841)
http://linked.open...iv/cisloPeriodika	6
http://linked.open...vai/riv/dodaniDat	2012
http://linked.open...aciTvurceVysledku	Horváth, Roman
http://linked.open.../riv/druhVysledku	J - Článek v odborném periodiku
http://linked.open...iv/duvernostUdaju	S - Úplné a pravdivé údaje nepodléhající ochraně podle zvláštních právních předpisů
http://linked.open...titaPredkladatele	Ústav teorie informace a automatizace AV ČR, v. v. i.
http://linked.open...dnocenehoVysledku	226644
http://linked.open...ai/riv/idVysledku	RIV/67985556:_____/11:00364038
http://linked.open...riv/jazykVysledku	eng - angličtina
http://linked.open.../riv/klicovaSlova	Research and development; Growth; Bayesian model averaging (en)
http://linked.open.../riv/klicoveSlovo	Bayesian model averaging Growth Research and development
http://linked.open...odStatuVydavatele	NL - Nizozemsko
http://linked.open...ontrolniKodProRIV	[0717706A3602]
http://linked.open...i/riv/nazevZdroje	Economic Modelling
http://linked.open...in/vavai/riv/obor	AH
http://linked.open...ichTvurcuVysledku	1 (xsd:int)
http://linked.open...cetTvurcuVysledku	1 (xsd:int)
http://linked.open...vavai/riv/projekt	New Approaches to Monitoring and Forecasting Financial Markets
http://linked.open...UplatneniVysledku	2011
http://linked.open...v/svazekPeriodika	28
http://linked.open...iv/tvurceVysledku	Horvath, Roman
http://linked.open...ain/vavai/riv/wos	000298070200036
http://linked.open...n/vavai/riv/zamer	Pokročilé matematické metody získávání, zpracování a využití informací a znalostí ve složitých a nedeterministických systémech Development of the Czech Society in the EU: challenges and risks
issn	0264-9993
number of pages	5 (xsd:int)
http://bibframe.org/vocab/doi	10.1016/j.econmod.2011.08.007

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