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- W2184944526 abstract "This paper documents the pattern of abrupt increase in the ratio of R&D expenditures to GDP from below one percent to more than two percent in a number of OECD countries, particularly the larger economies, and in several large developing economies, including China. The endogenous growth literature identifies certain factors that drive an economy's research intensity. These include: (i) a decline in the output elasticity of production labor in relation to technology inputs, (ii) an increase in the marginal product of R&D labor, (iii) growing access to an enlarged knowledge base through international technology diffusion, and (iv) and subsidies to R&D labor, such as an increase in the wage-productivity gap. The paper places these four theoretical conditions in empirical context for China whose R&D-GDP ratio rose from 0.6 percent in 1996 to 1.3 percent in 2003. All four of these conditions are transitional. As the advanced nations converge to similar levels of technological intensity and similar levels of R&D labor productivity, access the same international technology frontier, and achieve factor price equalization for their R&D labor inputs, the advanced country R&D intensities tend to level off within the range of two to three percent." @default.
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- W2184944526 date "2005-01-01" @default.
- W2184944526 modified "2023-09-22" @default.
- W2184944526 title "Science and Technology Takeoff in Historical and Theoretical Perspective 1" @default.
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