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R&D and Innovations on Tertiary Sector’s Performance and Its Contribution to the World Economic Growth

Received: 28 January 2015     Accepted: 19 February 2015     Published: 6 March 2015
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Abstract

Growth effects of R&D, especially in the service sector, are focused in this paper. By using a Romer type growth model with a R&D sector and a final goods retailing sector, we point out growth effects from the labor share of the R&D sector and the service sector. From the empirical analysis on the steady state equation, a positive per-capita income contribution from service sector’ GDP share is put out at light as well as the number of researcher is here indicated for its weight on understanding the subject. And for world growth data we apply principal component analysis: a strong causality effect among per-capita GDP, R&D investment, and service sector share is deduced.

Published in International Journal of Economic Behavior and Organization (Volume 3, Issue 2-1)

This article belongs to the Special Issue Recent Developments of Economic Theory and Its Applications

DOI 10.11648/j.ijebo.s.2015030201.16
Page(s) 31-38
Creative Commons

This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.

Copyright

Copyright © The Author(s), 2015. Published by Science Publishing Group

Keywords

Endogenous Economic Growth, R&D, Service Sector Growth, World Development

References
[1] Barro, R. J. and X. Sala-i-Martine, 2004, Economic Growth (Second Edition), The MIT Press, Cambridge, Massachusetts.
[2] Djellal,F., Francoz D., Gallouj, C., Gallouj, F. and Yves Jacquin 2003, “Revising the definition of research and development in the light of the specificities of services” Science and Public Policy, volume 30, number 6, pages 415–429, Beech Tree Publishing, 10 Watford Close, Guildford, Surrey GU1 2EP, England.
[3] Francisco J. B., and KABOSKI J. P., 2012, “The rise of the Service Economy”, The American Economic Review, Volume 102, Number 6.
[4] Gordon, R.J., 1990, The Measurement of Durable Goods Prices, Chicago, Chicago University Press.
[5] Jones, C. I., 1997, Introduction to Economic Growth, W.W. Norton, New York.
[6] Manual, F. (OECD), 1993, Organization for Economic Co-operation and Development, Proposed Standard Practice for Surveys of Research and Experimental Development: Frascati Manual (OECD, Paris, fifth edition)
[7] Romer, P. M., 1990, “Endogenous Technological Change,” Journal of Political Economy, vol. 98, pp.s71-s102.
[8] Sahli, M. and Carey S., 2011, “Inbound Tourism and Economic Growth: A Review of Theory and Empirics,” in Tisdal, C.A. ed., Handbook of Tourism Economics - Analysis, New Applications and Case Studies, World Scientific Publisher.
[9] Solow, R.M., 1957, “Technical Change and the Aggregate Production Function,” Review of Economics and Statistics, vol.39, pp.312-320.
[10] Tanase, D. and Tanase, A., 2012, “The role of the tertiary sector in the growth of economic competitiveness”, Annals Economics Science Series Central and Eastern European Online Library.
[11] Vanoli A., 2008, “La mise à jour du SCN 1993”, Comments at the 12th Association de Comptabilité Nationale Colloquium, Paris.
[12] World Bank, 2012, World Developmnet Indicators 2012, Yale University Press.
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  • APA Style

    Yasuyuki Nishigaki, Leisa Cristina Sena Moreno. (2015). R&D and Innovations on Tertiary Sector’s Performance and Its Contribution to the World Economic Growth. International Journal of Economic Behavior and Organization, 3(2-1), 31-38. https://doi.org/10.11648/j.ijebo.s.2015030201.16

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    ACS Style

    Yasuyuki Nishigaki; Leisa Cristina Sena Moreno. R&D and Innovations on Tertiary Sector’s Performance and Its Contribution to the World Economic Growth. Int. J. Econ. Behav. Organ. 2015, 3(2-1), 31-38. doi: 10.11648/j.ijebo.s.2015030201.16

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    AMA Style

    Yasuyuki Nishigaki, Leisa Cristina Sena Moreno. R&D and Innovations on Tertiary Sector’s Performance and Its Contribution to the World Economic Growth. Int J Econ Behav Organ. 2015;3(2-1):31-38. doi: 10.11648/j.ijebo.s.2015030201.16

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  • @article{10.11648/j.ijebo.s.2015030201.16,
      author = {Yasuyuki Nishigaki and Leisa Cristina Sena Moreno},
      title = {R&D and Innovations on Tertiary Sector’s Performance and Its Contribution to the World Economic Growth},
      journal = {International Journal of Economic Behavior and Organization},
      volume = {3},
      number = {2-1},
      pages = {31-38},
      doi = {10.11648/j.ijebo.s.2015030201.16},
      url = {https://doi.org/10.11648/j.ijebo.s.2015030201.16},
      eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijebo.s.2015030201.16},
      abstract = {Growth effects of R&D, especially in the service sector, are focused in this paper. By using a Romer type growth model with a R&D sector and a final goods retailing sector, we point out growth effects from the labor share of the R&D sector and the service sector. From the empirical analysis on the steady state equation, a positive per-capita income contribution from service sector’ GDP share is put out at light as well as the number of researcher is here indicated for its weight on understanding the subject. And for world growth data we apply principal component analysis: a strong causality effect among per-capita GDP, R&D investment, and service sector share is deduced.},
     year = {2015}
    }
    

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    AU  - Yasuyuki Nishigaki
    AU  - Leisa Cristina Sena Moreno
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    DO  - 10.11648/j.ijebo.s.2015030201.16
    T2  - International Journal of Economic Behavior and Organization
    JF  - International Journal of Economic Behavior and Organization
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    AB  - Growth effects of R&D, especially in the service sector, are focused in this paper. By using a Romer type growth model with a R&D sector and a final goods retailing sector, we point out growth effects from the labor share of the R&D sector and the service sector. From the empirical analysis on the steady state equation, a positive per-capita income contribution from service sector’ GDP share is put out at light as well as the number of researcher is here indicated for its weight on understanding the subject. And for world growth data we apply principal component analysis: a strong causality effect among per-capita GDP, R&D investment, and service sector share is deduced.
    VL  - 3
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Author Information
  • Faculty of Economics, Ryukoku University, Kyoto, Japan

  • Graduate School of Economics, Ryukoku University, Kyoto, Japan

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