CONNECTING INNOVATION AND ECONOMIC PROSPERITY: THE IMPACT OF R&D EXPENDITURES ON ECONOMIC GROWTH

CONNECTING INNOVATION AND ECONOMIC PROSPERITY: THE IMPACT OF R&D EXPENDITURES ON ECONOMIC GROWTH

Blog Article

The role of research and development (R&D) as a main foundation of innovation, productivity improvement, and a key element for national competitive advantage in the global economy is well established.This study aims to examine the relationship between R&D investment and economic growth through empirical analysis using panel Sherlocks regression techniques.Our results reveal that human Dugouts capital specialised in science and technology significantly contributes to economic growth.Overall, innovation and a well-educated workforce are helpful in achieving sustainable development.

Our model provides a statistically valid framework for analysing economic growth, enabling the formulation of sound policy recommendations while accounting for potential biases commonly found in panel data analysis.