Mamatzakis, Emmanuel and Tsamadias, C. and Pegkas, P. and Staikouras, C. (2019) Does R&D, human capital and FDI matter for TFP in OECD countries? Economics of Innovation and New Technology 28 (4), pp. 386-406. ISSN 1043-8599.
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Abstract
This study investigates the interplay between research and development (R&D), human capital (HC), foreign direct investment (FDI) and total factor productivity (TFP) in OECD countries. We divide the sample into two sub-groups; the European and the non-European states so as to account for underlying country heterogeneity. The analysis follows a panel data approach over the period 1995–2015, taking into account the modelling on non-stationarity, long-run relationships and short-run dynamics with a panel VAR. Both R&D and HC have a positive effect on TFP, whilst FDI has a positive and significant effect only in the case of non-European countries. Moreover, the contribution of R&D is higher than that of HC and FDI in all cases. Thus, based on these findings, policymakers should design and implement policies to increase resources invested in R&D, with a consistent ongoing spending review, to attract foreign direct investment, especially for the majority of the European and some of the non-European countries and to improve education system on a more productive innovation and research base.
Metadata
| Item Type: | Article |
|---|---|
| Keyword(s) / Subject(s): | R&D, Human capital, FDI, total factor productivity, OECD, panel data |
| School: | Birkbeck Faculties and Schools > Faculty of Business and Law > Birkbeck Business School |
| Research Centres and Institutes: | Accounting and Finance Research Centre |
| Depositing User: | Emmanuel Mamatzakis |
| Date Deposited: | 03 Mar 2020 14:41 |
| Last Modified: | 02 Aug 2023 17:57 |
| URI: | https://eprints.bbk.ac.uk/id/eprint/30861 |
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