Scaling up innovation: does research and development have a role to play in economic growth? A case of Hungary.
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Authors
Tsaurai, Kunofiwa
Issue Date
2017
Type
Article
Language
en
Keywords
Cointegration , Economic growth , Hungary , Innovation , Panel data , Research and development
Alternative Title
Abstract
The study investigated the impact of research and development expenditure on economic growth in Hungary using annual time series data ranging between 1996 and 2013. Abundant literature is available which shows that research and development expenditure leads to the improvement in economic growth. However, such studies in the case of Hungary are quite scant. The Johansen and Juselius’ (1990) cointegration test noted that there exists a long run relationship between research and development and economic growth in Hungary. Moreover, economic growth was found to have been Granger caused by research and development expenditure in Hungary both in the short and long run, in support of the literature. The study, therefore, urges the Hungarian policy makers to craft and implement action plans that boost research and development expenditure in order to enhance economic growth in Hungary.
Description
Citation
Tsaurai, K. 2017. Scaling up innovation: does research and development have a role to play in economic growth? A case of Hungary. International. Journal of Education Economics and Development, 8(1): 65-77.
Publisher
Inderscience
License
Journal
Volume
Issue
PubMed ID
DOI
ISSN
1759-5681