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DOES PUBLIC R&D CROWD OUT PRIVATE R&D? A NOTE FROM TAIWAN, ROC

YEMANE WOLDE-RUFAEL
경제연구소 (Hanyang Economic Research Institute)|2009.06|Journal of Economic Development|제34권 제1호|pp. 59-69|DOI 10.35866/caujed.2009.34.1.004

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참고문헌

키워드

TaiwanCausalityImpulse ResponseBounds TestPublic and Private R&D
주제분류경제학

초록

This paper tests the cointegration and causal relationship between aggregate public R&D and private R&D for Taiwan for the period 1979-2007 using a newly developed cointegration test proposed by Pesaran et al. (2001) and using a modified version of the Granger causality test due to Toda and Yamamoto (1995). The paper finds a long run cointegrating relationship between public and private R&D and a bi-directional causality where they complement each other. The Government of the ROC should continue to invest not only to stimulate private R&D but also to enable the country to compete more globally in technology-intensive products.

Abstract

This paper tests the cointegration and causal relationship between aggregate public R&D and private R&D for Taiwan for the period 1979-2007 using a newly developed cointegration test proposed by Pesaran et al. (2001) and using a modified version of the Granger causality test due to Toda and Yamamoto (1995). The paper finds a long run cointegrating relationship between public and private R&D and a bi-directional causality where they complement each other. The Government of the ROC should continue to invest not only to stimulate private R&D but also to enable the country to compete more globally in technology-intensive products.

참고문헌 (31)

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