R&D and Development

R&D and Development

Lederman and Maloney trace the evolution of research and development (R&D) expenditures along the development process using a new global panel data set. They show that R&D effort measured as a share of GDP rises with development at an incre...

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Bibliographic Details
Main Authors:	Lederman, Daniel, Maloney, William F.
Format:	Policy Research Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2014
Subjects:	RESEARCH & DEVELOPMENT EXPENDITURE ANALYSIS EXPORTS INTELLECTUAL PROPERTY RIGHTS GOVERNMENT DECISION-MAKING RESEARCH ORGANIZATIONS FACTOR PRODUCTIVITY TECHNOLOGY DEVELOPMENT ECONOMIC DEVELOPMENT BASIC RESEARCH INNOVATIONS DEVELOPING COUNTRIES RATES OF RETURN PRODUCTIVITY GROWTH ACCELERATOR AGRICULTURE BASIC SCIENCE BENCHMARKING CAPITAL MARKETS COMPETITIVENESS CPI CROWDING OUT ECONOMETRICS ECONOMIC GROWTH ECONOMIC RISK EDUCATIONAL ATTAINMENT ELASTICITIES ELASTICITY EMPLOYMENT ENDOGENOUS VARIABLES EQUILIBRIUM ESTIMATORS EXPECTED RETURNS EXPLOITATION EXPLORATION FISHING FOREIGN R&D FUTURE RESEARCH GDP GDP PER CAPITA GROWTH MODELS INCOME LEVELS INTELLECTUAL PROPERTY INTEREST RATES LABOR FORCE LABOR PRODUCTIVITY LEVEL OF INCOME LEVELS OF INCOME MARGINAL PRODUCT MARKET POWER NATIONAL INNOVATIVE CAPACITY NATURAL RESOURCES NET EXPORTS OIL OPPORTUNITY COST OPPORTUNITY COSTS PATENT PROTECTION PER CAPITA INCOME POSITIVE EFFECTS PRIVATE R&D PRIVATE SECTOR PRODUCTION FUNCTION PRODUCTIVITY GROWTH PROPERTY RIGHTS PROTECTION OF INTELLECTUAL PROPERTY RIGHTS PUBLIC R&D PUBLIC RESEARCH R&D R&D EFFICIENCY R&D EXPENDITURES R&D PROJECTS R&D SPENDING RANDOM WALK REAL INTEREST RATE REGRESSION ANALYSIS RESEARCH CAPACITY RESEARCH CENTERS RESEARCH EXPENDITURES RESEARCH INSTITUTIONS RESEARCH POLICY RESEARCH WORKING PAPERS RETAINED EARNINGS SAVINGS SOIL RESEARCH STATISTICAL DATA SUCCESSFUL COUNTRIES SURVEY DATA TECHNIQUES TECHNOLOGICAL CHANGE TECHNOLOGICAL FRONTIER TECHNOLOGICAL INNOVATION TECHNOLOGICAL PROGRESS TECHNOLOGY INDICATORS TERTIARY EDUCATION TIME SERIES TOTAL FACTOR PRODUCTIVITY VALIDITY RESEARCH AND DEVELOPMENT
Online Access:	http://documents.worldbank.org/curated/en/2003/04/2323014/research-development-rd-development http://hdl.handle.net/10986/18254

Description
Summary:	Lederman and Maloney trace the evolution of research and development (R&D) expenditures along the development process using a new global panel data set. They show that R&D effort measured as a share of GDP rises with development at an increasing rate. The authors examine how four groups of countries from Latin America, Asia, advanced manufacturing exporters, and advanced natural resource-abundant countries fare relative to the predicted development trajectory. Latin America generally underperforms as do some countries in Asia and Europe, but their striking finding is that some-Finland, Israel, the Republic of Korea, and Taiwan (China)-have radically deviated from the predicted trajectory and displayed impressive R&D takeoffs. The authors ask whether these countries overinvest in R&D but find that the high estimates of the social rates of return probably justify this effort. Moreover, the returns to R&D decline with per capita GDP. The authors attempt to explain why rich countries invest more in R&D than poor countries. They conclude that financial depth, protection of intellectual property rights, government capacity to mobilize resources, and the quality of research institutions are the main reasons why R&D efforts rise with the level of development.

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