The Impacts of Research and Development Expenditures

The Relationship Between Total Factor Productivity and U.S. Gross Domestic Product Performance

Nonfiction, Social & Cultural Studies, Political Science, Politics, Economic Policy, Science & Nature, Science, Business & Finance
Cover of the book The Impacts of Research and Development Expenditures by John J. Wetter, Springer New York
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: John J. Wetter ISBN: 9781441975300
Publisher: Springer New York Publication: November 3, 2010
Imprint: Springer Language: English
Author: John J. Wetter
ISBN: 9781441975300
Publisher: Springer New York
Publication: November 3, 2010
Imprint: Springer
Language: English

The research underlying this volume was designed to test the theory of Total Factor Productivity (TFP) in contemporary context. Developed by Nobel Prize-winning economist, Robert Solow, in the 1950s, TFP has been applied by many economists to investigate the relationships among capital, labor, and economic performance. In this analysis, John Wetter presents the hypothesis that technological investment drives growth and performance of the U.S. economy. The study addresses four key questions: 1. Is there a relationship between Total Factor Productivity and Gross National Product? 2. Is there a relationship between Total Factor Productivity and Research & Development expenditures? 3. Is there a relationship between Research & Development expenditures and Gross Domestic Product? 4. Can the relationship in research question #1 be explained by other factors? Is there any potential non-spuriousness (mediation) implication to the relationship? Synthesizing the literature from related fields, including macroeconomics, technology transfer, and innovation, and applying rigorous methodology, Wetter demonstrates that Total Factor Productivity is positively related to Gross Domestic Product and is mediated by Research & Development. In addition, he reveals that the lag time between R&D spending and GDP growth averages eleven years, which suggests that long-term planning is essential to maximizing the benefits of R&D. Wetter considers the implications for policymaking and industry leadership, including such timely issues as the effects of the 2009 U.S. stimulus program.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

The research underlying this volume was designed to test the theory of Total Factor Productivity (TFP) in contemporary context. Developed by Nobel Prize-winning economist, Robert Solow, in the 1950s, TFP has been applied by many economists to investigate the relationships among capital, labor, and economic performance. In this analysis, John Wetter presents the hypothesis that technological investment drives growth and performance of the U.S. economy. The study addresses four key questions: 1. Is there a relationship between Total Factor Productivity and Gross National Product? 2. Is there a relationship between Total Factor Productivity and Research & Development expenditures? 3. Is there a relationship between Research & Development expenditures and Gross Domestic Product? 4. Can the relationship in research question #1 be explained by other factors? Is there any potential non-spuriousness (mediation) implication to the relationship? Synthesizing the literature from related fields, including macroeconomics, technology transfer, and innovation, and applying rigorous methodology, Wetter demonstrates that Total Factor Productivity is positively related to Gross Domestic Product and is mediated by Research & Development. In addition, he reveals that the lag time between R&D spending and GDP growth averages eleven years, which suggests that long-term planning is essential to maximizing the benefits of R&D. Wetter considers the implications for policymaking and industry leadership, including such timely issues as the effects of the 2009 U.S. stimulus program.

More books from Springer New York

Cover of the book Theory of Arched Structures by John J. Wetter
Cover of the book Ecosystems and Human Health by John J. Wetter
Cover of the book Meyers' Dynamic Radiology of the Abdomen by John J. Wetter
Cover of the book Stability of Functional Equations in Random Normed Spaces by John J. Wetter
Cover of the book Meteor Showers by John J. Wetter
Cover of the book Hispanic Families at Risk by John J. Wetter
Cover of the book Variational Analysis and Aerospace Engineering: Mathematical Challenges for Aerospace Design by John J. Wetter
Cover of the book Fast Hopping Frequency Generation in Digital CMOS by John J. Wetter
Cover of the book Global Analysis of Nonlinear Dynamics by John J. Wetter
Cover of the book Solar System Maps by John J. Wetter
Cover of the book Contested Cultural Heritage by John J. Wetter
Cover of the book Biodiversity by John J. Wetter
Cover of the book Against Typological Tyranny in Archaeology by John J. Wetter
Cover of the book Microeconomic Theory and Computation by John J. Wetter
Cover of the book Physics of the Plasma Universe by John J. Wetter
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy