nep-knm New Economics Papers
on Knowledge Management and Knowledge Economy
Issue of 2020‒03‒02
one paper chosen by
Laura Ştefănescu
Centrul European de Studii Manageriale în Administrarea Afacerilor

  1. Research Effort and Economic Growth By Weshah Razzak

  1. By: Weshah Razzak (School of Economics and Finance, Massey University, Palmerston North)
    Abstract: Total factor productivity growth (TFP) is positively related to the growth rate in effective research efforts. At the macro level, research effort is the nonlinear product of human capital and the number of people engaged in research activity. The rate of return on human capital is positive across the G7 countries. However, the rate of return on the number of researcher is negative in all countries except the U.S. thus; there is a decreasing return to scale in the production of new ideas.
    Keywords: TFP Growth, Research Efforts, Education, Human Capital, Useful Knowledge
    JEL: O40 O47
    Date: 2020

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