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Changes In R&D Expenditure And Productivity Growth: A Causal Analysis, Mawdudur Rahman, Abdur Chowdhury
Changes In R&D Expenditure And Productivity Growth: A Causal Analysis, Mawdudur Rahman, Abdur Chowdhury
Abdur R. Chowdhury
A study was conducted to directly test the presence of causal relationship between changes in research and development (R&D) expenditure and productivity growth. Granger causality tests are performed using annual time series data for the period 1956-1983. Three measures of productivity are used -- National Income, National Income per person employed, and National Income per hour of work in the nonresidential business sector. Results show that changes in R&D expenditure affect the growth rate of the 3 productivity measures with different degrees of intensity. National Income per hour of work shows the highest growth rate, with the peak effect occurring …