U.S. Gross Domestic Product Growth and Federal Academic Research and Development Expenditures

• In Event: 16.058 - Roundtable Session 6
  In Roundtable Session: 16.058-5 - Division J Section 5 1

Abstract

The purpose of this study is to expand the empirical literature on the relationship between R&D and economic growth by examining the effects of federal R&D expenditures on the U.S. national economy. This study sought to answer the following research question: Is investment in academic R&D a strong predictor of national economic growth when controlling for such factors as capital, labor, and population? We were guided by endogenous growth theory, draw on data from over a 60-year period (from 1953 to 2012, and use cointegration analysis.

Authors

• Alexandra Kuvaeva, University of Maryland - College Park

• Marvin A. Titus, University of Maryland