Why it pays off to pay us well: The impact of basic research on economic growth and welfare

Klaus Prettner; Katharina Werner

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Why it pays off to pay us well: The impact of basic research on economic growth and welfare

机译：为什么要付出回报才能为我们带来丰厚回报：基础研究对经济增长和福利的影响

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We analyze the growth and welfare effects of governmental basic research investments in an R&D-based growth model with endogenous fertility and endogenous education. In line with the empirical evidence, our model accounts for (ⅰ) the negative effect of population growth on economic growth, (ⅱ) the positive effect of education on economic growth, (ⅲ) the positive association between the level of per capita GDP and expenditures for basic research, and (ⅳ) the gestation lag of basic research investments. Our results indicate that there exists an interior long-run welfare-maximizing investment rate in basic research that is much higher than the rates observed in OECD countries. The model-based explanation that we provide for this discrepancy is that raising public investments in basic research toward the optimal level reduces the growth rate of GDP and welfare in the short run because taxes have to increase and resources have to be drawn away from other productive sectors of the economy. These adverse short-run welfare effects are one potential explanation for the reluctance of governments and their currently living voters to increase public R&D expenditures despite the long-run benefits of such a policy.

机译：我们在具有内生力和内生教育的基于R＆D的增长模型中分析了政府基础研究投资的增长和福利效应。根据经验证据，我们的模型解释了（ⅰ）人口增长对经济增长的负面影响，（ⅱ）教育对经济增长的积极影响，（ⅲ）人均GDP水平与基础研究的支出，以及（ⅳ）基础研究投资的酝酿期。我们的结果表明，在基础研究中存在着一个长期的，内部最大化福利的长期投资率，远高于在经合组织国家中观察到的投资率。我们为这种差异提供的基于模型的解释是，将基础研究中的公共投资提高到最佳水平会在短期内降低GDP和福利的增长率，因为必须增加税收并且必须从其他生产性资源中提取资源。经济部门。这些不利的短期福利影响是对政府及其现任选民不愿增加公共研发支出的潜在解释，尽管这种政策具有长期利益。

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来源
《Research policy》 |2016年第5期|1075-1090|共16页
作者
Klaus Prettner; Katharina Werner;
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作者单位

University of Hohenheim, Institute of Economics, Schloss, Osthof-West, 70593 Stuttgart, Germany;

Department of Economics, University of Goettingen, Platz der Goettinger Sieben 3,37073 Goettingen, Germany;

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收录信息美国《科学引文索引》(SCI);美国《工程索引》(EI);
原文格式 PDF
正文语种 eng
中图分类
关键词
RD-based growth; Basic science; Optimal governmental research policies; Endogenous schooling; Endogenous fertility;

机译：基于研发的增长;基础科学;最佳的政府研究政策;内生教育;内生生殖力;

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Why it pays off to pay us well: The impact of basic research on economic growth and welfare

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