Abstract
ABSTRACT This paper aims to investigate the role of scientific research in the development of technology advancement and subsequent economic growth. The publication data collected from Science and Nature consists of 31,615 lines in Excel. Scholars from 3,790 universities and research institutes in 118 countries have published in the two premier journals over the period 2012–2019. Using these publication data, we explore two transmission channels: first, research output can be used for the development of innovations and inventions; second, such a technological advancement promotes economic growth. Instrumental variable (IV) estimation suggests that scientific publications have a causal effect on the enhancement of advanced technologies; the technology enhancement, in turn, has a causal effect on economic growth. Empirical evidence in direct support of these two relationships provide major incentives for governments and business firms to invest more towards future research in the fields of science and technology.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.