Template-type: ReDIF-Paper 1.0
Author-Name: Ziesemer, Thomas
Author-Email: ziesemer@merit.unu.edu
Author-Workplace-Name: UNU-MERIT
Title: Japan's productivity and GDP growth: The role of GBAORD, public and foreign R&D
Abstract: We analyse the dynamic interaction of Japan's total factor productivity 
	 (TFP), GDP, domestic and foreign private and public R&D as well as 
	 mission-oriented R&D, GBAORD, in a cointegrated VAR for Japan with data 
	 from 1988-2014. Analysis of effects of permanent shocks shows that (i) 
	 public R&D, unlike GBAORD, encourages private R&D and TFP, and has high 
	 internal rates of return. (ii) Japan's public and private R&D have a 
	 statistically significant positive effect on foreign private and public 
	 R&D stocks and vice versa. (iii) After transitory GDP shocks, public and 
	 private R&D are counter-cyclical and GBAORD is pro-cyclical in Japan.
Classification-JEL: F43, O19, O47, O53
Keywords: R&D, productivity, growth, spillovers, vector-auto-regression (VAR) 
Series: UNU-MERIT Working Papers
Creation-Date: 20190911
Number: 2019-029
File-URL: https://unu-merit.nl/publications/wppdf/2019/wp2019-029.pdf
File-Format: application/pdf
File-Size: 275 Kb
Handle: RePEc:unm:unumer:2019029