Innovation Driven Economic Growth: Evidence for G7 Countries
Анотація
The paper is devoted to the examining the influence of economic growth factor that determines the success in innovations production and to some extent reflects the level of human capital of the country -researchers in R&D (per million people) -on the cross-country income differences among G7 economies based on the economic and mathematical models construction. It was constructed panel data model to estimate the effect of number of researchers engaged in R&D sector on GDP per capita in G7 countries. According to model results, number of researchers in R&D sector affect GDP per capita of G7 economies with lag of 6 years.
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