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Statements

Subject Item
n2:RIV%2F67985556%3A_____%2F11%3A00364038%21RIV12-AV0-67985556
rdf:type
skos:Concept n15:Vysledek
dcterms: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.
dcterms:title
Research & development and growth: A Bayesian model averaging analysis Research & development and growth: A Bayesian model averaging analysis
skos:prefLabel
Research & development and growth: A Bayesian model averaging analysis Research & development and growth: A Bayesian model averaging analysis
skos:notation
RIV/67985556:_____/11:00364038!RIV12-AV0-67985556
n15:predkladatel
n16:ico%3A67985556
n3:aktivita
n9:Z n9:P
n3:aktivity
P(GA402/09/0965), Z(AV0Z10750506), Z(MSM0021620841)
n3:cisloPeriodika
6
n3:dodaniDat
n6:2012
n3:domaciTvurceVysledku
n10:5059704
n3:druhVysledku
n14:J
n3:duvernostUdaju
n11:S
n3:entitaPredkladatele
n13:predkladatel
n3:idSjednocenehoVysledku
226644
n3:idVysledku
RIV/67985556:_____/11:00364038
n3:jazykVysledku
n18:eng
n3:klicovaSlova
Research and development; Growth; Bayesian model averaging
n3:klicoveSlovo
n12:Growth n12:Research%20and%20development n12:Bayesian%20model%20averaging
n3:kodStatuVydavatele
NL - Nizozemsko
n3:kontrolniKodProRIV
[0717706A3602]
n3:nazevZdroje
Economic Modelling
n3:obor
n20:AH
n3:pocetDomacichTvurcuVysledku
1
n3:pocetTvurcuVysledku
1
n3:projekt
n7:GA402%2F09%2F0965
n3:rokUplatneniVysledku
n6:2011
n3:svazekPeriodika
28
n3:tvurceVysledku
Horvath, Roman
n3:wos
000298070200036
n3:zamer
n4:MSM0021620841 n4:AV0Z10750506
s:issn
0264-9993
s:numberOfPages
5
n19:doi
10.1016/j.econmod.2011.08.007