TY - JOUR
T1 - The Relationship Between Scientific Production and Economic Growth Through R&D Investment
T2 - A Bibliometric Approach
AU - Arana-Barbier, Pablo José
N1 - Publisher Copyright:
© 2023 The Author(s).
PY - 2023/9
Y1 - 2023/9
N2 - This quantitative bibliometric research measures the efficiency of investment in R&D for the 17 more relevant countries investing in R&D through a novel indicator based on the number of scientific articles (associated with stock markets), produced for every 1% of investment in R&D in terms of GDP. The study is justified by the need to deepen the relationship between investment in R&D and economic growth, and was conducted for developed and emerging countries separately, so that the understanding of which countries or regions’ investment in R&D and its consequent scientific production has the greatest impact over the size of their economies through innovation. Our findings indicate clearly that R&D investment strongly correlates to the economy’s size of the studied countries. In addition to finding our novel indicator statistically significant with respect to economic growth through a series of multiple linear regressions and proposing economic growth not statically, but as a dynamic cumulative effect over time, this becomes more relevant for emerging countries (represented in this study by China, Brazil, India, Russia and Turkey, or BRIC + Turkey) compared to developed ones, which decants into an opportunity for scholars and particularly governments to design or restructure their R&D policies towards innovation.
AB - This quantitative bibliometric research measures the efficiency of investment in R&D for the 17 more relevant countries investing in R&D through a novel indicator based on the number of scientific articles (associated with stock markets), produced for every 1% of investment in R&D in terms of GDP. The study is justified by the need to deepen the relationship between investment in R&D and economic growth, and was conducted for developed and emerging countries separately, so that the understanding of which countries or regions’ investment in R&D and its consequent scientific production has the greatest impact over the size of their economies through innovation. Our findings indicate clearly that R&D investment strongly correlates to the economy’s size of the studied countries. In addition to finding our novel indicator statistically significant with respect to economic growth through a series of multiple linear regressions and proposing economic growth not statically, but as a dynamic cumulative effect over time, this becomes more relevant for emerging countries (represented in this study by China, Brazil, India, Russia and Turkey, or BRIC + Turkey) compared to developed ones, which decants into an opportunity for scholars and particularly governments to design or restructure their R&D policies towards innovation.
KW - Bibliometrics
KW - Economic growth
KW - Multiple linear regression
KW - Research and development
KW - Scientific production
KW - SDG 8
UR - http://www.scopus.com/inward/record.url?scp=85180094621&partnerID=8YFLogxK
U2 - 10.5530/jscires.12.3.057
DO - 10.5530/jscires.12.3.057
M3 - Article
AN - SCOPUS:85180094621
SN - 2321-6654
VL - 12
SP - 596
EP - 602
JO - Journal of Scientometric Research
JF - Journal of Scientometric Research
IS - 3
ER -