Journal
APPLIED ECONOMICS
Volume 48, Issue 24, Pages 2301-2308Publisher
ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
DOI: 10.1080/00036846.2015.1117052
Keywords
Research output; real GDP; asymmetric panel causality; G7
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Recent studies have shown increasing interest on the relationship between research output and economic growth. The study of such a relationship is not only of theoretical interest, but it can also influence specific policies to improve the quality, and probably the quantity of research output. This article has studied this relationship in G7 countries using the asymmetric panel causality test of Hatemi-J (2011). Our results show that only the UK shows a causal relationship from the output of research to real GDP. However, when the signs of variations are taken into account, there is an asymmetric causality running from negative research output shocks to negative real GDP shocks.
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