THE EFFECT OF HUMAN CAPITAL, R&D AND PATENTS ON ECONOMIC GROWTH. EVIDENCE FROM HETEROGENEOUS CROSS-COUNTRY DATA

被引：0
|
作者：
Saman, Corina [1 ]
机构：
[1] Inst Econ Forecasting, Casa Acad,Calea 13,Septembrie 13, Bucharest, Romania
来源：
TRANSFORMATIONS IN BUSINESS & ECONOMICS | 2022年 / 21卷 / 03期
关键词：
growth; human capital; innovation; PUBLIC-EDUCATION EXPENDITURES; REGRESSION; INNOVATION; INFERENCE; PANELS; BIAS;
D O I：
暂无
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
The present study investigates the short-run dynamics among human capital, R&D and innovation and per capita income growth in the panel of EU countries for the period 2000-2017. One of the reasons that previous literature on cross-country found inconclusive or contrary results could be omitted variables, unobserved heterogeneity, and cross-sectional dependence that are not controlled for. This paper control for these problems using panel models that assume a common factor structure. The heterogeneous-effects dynamic model estimates of the elasticities of average years of schooling, R&D expenditures, and the number of patents are significantly positive at 0.39, 0.23, and 0.009, respectively.
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页码：306 / 318
页数：13
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