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001 978-1-4419-7530-0
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008 101109s2011 xxu| s |||| 0|eng d
020 _a9781441975300
_9978-1-4419-7530-0
024 7 _a10.1007/978-1-4419-7530-0
_2doi
050 4 _aJF20-2112
072 7 _aKJMV6
_2bicssc
072 7 _aSCI000000
_2bisacsh
072 7 _aBUS092000
_2bisacsh
082 0 4 _a338.926
_223
100 1 _aWetter, John J.
_eauthor.
245 1 4 _aThe Impacts of Research and Development Expenditures
_h[electronic resource] :
_bThe Relationship Between Total Factor Productivity and U.S. Gross Domestic Product Performance /
_cby John J. Wetter.
264 1 _aNew York, NY :
_bSpringer New York,
_c2011.
300 _aXIX, 108 p.
_bonline resource.
336 _atext
_btxt
_2rdacontent
337 _acomputer
_bc
_2rdamedia
338 _aonline resource
_bcr
_2rdacarrier
347 _atext file
_bPDF
_2rda
490 1 _aInnovation, Technology, and Knowledge Management ;
_v8
520 _aThe research underlying this volume was designed to test the theory of Total Factor Productivity (TFP) in contemporary context. Developed by Nobel Prize-winning economist, Robert Solow, in the 1950s, TFP has been applied by many economists to investigate the relationships among capital, labor, and economic performance. In this analysis, John Wetter presents the hypothesis that technological investment drives growth and performance of the U.S. economy. The study addresses four key questions: 1.Is there a relationship between Total Factor Productivity and Gross National Product? 2.Is there a relationship between Total Factor Productivity and Research & Development expenditures? 3.Is there a relationship between Research & Development expenditures and Gross Domestic Product? 4.Can the relationship in research question #1 be explained by other factors? Is there any potential non-spuriousness (mediation) implication to the relationship? Synthesizing the literature from related fields, including macroeconomics, technology transfer, and innovation, and applying rigorous methodology, Wetter demonstrates that Total Factor Productivity is positively related to Gross Domestic Product and is mediated by Research & Development. In addition, he reveals that the lag time between R&D spending and GDP growth averages eleven years, which suggests that long-term planning is essential to maximizing the benefits of R&D. Wetter considers the implications for policymaking and industry leadership, including such timely issues as the effects of the 2009 U.S. stimulus program.
650 0 _aEconomics.
650 0 _aEndogenous growth (Economics).
650 0 _aEconomic policy.
650 1 4 _aEconomics/Management Science.
650 2 4 _aR & D/Technology Policy.
650 2 4 _aEconomic Policy.
650 2 4 _aEconomic Growth.
710 2 _aSpringerLink (Online service)
773 0 _tSpringer eBooks
776 0 8 _iPrinted edition:
_z9781441975294
830 0 _aInnovation, Technology, and Knowledge Management ;
_v8
856 4 0 _uhttp://dx.doi.org/10.1007/978-1-4419-7530-0
912 _aZDB-2-ENG
999 _c105789
_d105789