R&D and Innovations on Tertiary Sector’s Performance and Its Contribution to the World Economic Growth
International Journal of Economic Behavior and Organization
Volume 3, Issue 2-1, April 2015, Pages: 31-38
Received: Jan. 28, 2015; Accepted: Feb. 19, 2015; Published: Mar. 6, 2015
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Authors
Yasuyuki Nishigaki, Faculty of Economics, Ryukoku University, Kyoto, Japan
Leisa Cristina Sena Moreno, Graduate School of Economics, Ryukoku University, Kyoto, Japan
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Abstract
Growth effects of R&D, especially in the service sector, are focused in this paper. By using a Romer type growth model with a R&D sector and a final goods retailing sector, we point out growth effects from the labor share of the R&D sector and the service sector. From the empirical analysis on the steady state equation, a positive per-capita income contribution from service sector’ GDP share is put out at light as well as the number of researcher is here indicated for its weight on understanding the subject. And for world growth data we apply principal component analysis: a strong causality effect among per-capita GDP, R&D investment, and service sector share is deduced.
Keywords
Endogenous Economic Growth, R&D, Service Sector Growth, World Development
To cite this article
Yasuyuki Nishigaki, Leisa Cristina Sena Moreno, R&D and Innovations on Tertiary Sector’s Performance and Its Contribution to the World Economic Growth, International Journal of Economic Behavior and Organization. Special Issue: Recent Developments of Economic Theory and Its Applications. Vol. 3, No. 2-1, 2015, pp. 31-38. doi: 10.11648/j.ijebo.s.2015030201.16
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