Document Type : ORIGINAL ARTICLE
Authors
1 Ph.D. in Economics, Faculty of Management and Economics, Islamic Azad University, Tehran, Iran
2 Professor of Economics, University of Shahid Beheshti, Tehran Research & Sciences Branch, Tehran, Iran
3 Assistant Professor of Economics, Islamic Azad University, Central Tehran Branch, Tehran, Iran
4 Assitnat Professor of Islamic Azad University, Tehran Research & Sciences Branch, Tehran, Iran
Abstract
Technology financing refers to the process of sponsoring research and development (R&D) activities in order to technologic move towards commercialization. Economic performance and the level of research and development expenditure in different countries can be affected by other countries. The present study tries to identify the most suitable spatial model and compare supportive policies with the approach of the dynamic space panel model for the period (2005-2016) and for the selected European countries (OECD), Southeast Asia and the Central Asia. Based on the results of the Moran test and verification spatial models, spatial R&D self-correlation in trade and technology and two-way technology relations and uniform distribution for negative spatial self-dependence are confirmed. By confirmation of the model (SDM), the R&D supportive policies show internal and external implications. According to the results of the estimation of the internal and external impacts of SDM models, the positive and significant effects of financial incentives (indirect support) on R&D in OECD and South-East Asian countries are confirmed, but negative effects are seen in the Central Asian countries. Positive and significant internal and external impacts of exports of the industry with the highest technology on R&D in the countries of South East Asian countries are confirmed. Innovation index has a positive and significant effect on R&D in all three regions, but its importance coefficient is more in Southeast Asian countries.
Keywords
آرمن، سیدعزیز؛ فرازمند، حسن؛ ملتفت، حسین و کفیلی، وحید (1395). "جرم و همگرایی تولید سرانه: یک تحلیل مبتنی بر اقتصادسنجی فضایی". فصلنامه علمی پژوهشی مطالعات اقتصادی کاربردی ایران، سال پنجم، شماره 20، 149-123.
بهمنی، مجتبی؛ جمشید نژاد، آرش و جنابی، امید (1394). "تحلیل فضایی سرریزهای فناوری در کشورهای منتخب آسیایی". مجله مدیریت توسعه فناوری، دوره 3، شماره 2، 125-105.
خدایی، مهدی؛ جعفری، محمد و فتاحی، شهرام (1397). "بررسی اثرات سیاست‌های مالی بر رشد اقتصادی در اقتصاد ایران: مدل‌های حالت- فضا". فصلنامه علمی پژوهشی پژوهش‌های رشد و توسعه اقتصادی، دوره 8، شماره 31، 92-79.
دل‌انگیزان، سهراب؛ گلی، یونس و گلی، یحیی (1396). "اندازه‌گیری نابرابری رشد اقتصادی استان‌ها و بررسی همگرایی رشد آنها (رهیافت اقتصادسنجی فضایی)". فصلنامه علمی پژوهشی پژوهش‌های رشد و توسعه اقتصادی، دوره 7، شماره 28، 98-83.
دهقان شبانی، زهرا (1396). "تحلیل تأثیر توسعه مالی بر تمرکز فعالیت‌های صنعتی و رشد اقتصادی در ایران: رویکرد داده‌های تابلویی پویای فضایی". فصلنامه علمی پژوهشی پژوهش‌های رشد و توسعه اقتصادی، دوره 7، شماره 27، 94-81.
ربیعی، مهناز (1387). "نقش تحقیق و توسعه در توسعه اقتصادی کشورها". فصلنامه تخصصی پارک‌ها و مراکز رشد، شماره 16، 340-305.
علی‌عظیمی، ناصر و برخورداری، سجاد (1387). "اقتصاد دانش‌محور در جنوب شرق آسیا ". مجله رهیافت، شماره 14، 128-111.
گوگردچیان، احمد و رحیمی، فاطمه (1391). "آثار سرریزهای تحقیق و توسعه و نوآوری شرکای بزرگ تجاری بر رشد اقتصادی ایران (2009-2000)". فصلنامه علمی پژوهشی پژوهش‌های رشد و توسعه اقتصادی، دوره 3، شماره 9، 24-9.
مهرآرا، محسن و محمدیان نیک‌پی، احسان (1394). "بررسی اقتصادی جرم و اثرات سرریز بین استانی آن در ایران: یک رویکرد پنل فضایی". فصلنامه علمی پژوهشی مدلسازی اقتصادی، دوره 9، شماره 29، 62-43.
وونگلیم، پیارات (1396). "تأمین مالی و تجاری‌سازی فناوری، شناسایی چالش‌ها و چگونگی ایجاد ظرفیت نوآوری در کشورها". مترجم: مرضیه اسفندیاری، چاپ اول، انتشارات پیک نور.
Anselin, L. (2003). “Spatial Externalities, Spatial Multipliers, and Spatial Econometrics”. International Regional Science Review, 26(2), 153-166.
Anselin, L. (1988). “Model Validation in Spatial Econometrics: A Review and Evaluation of Alternative Approaches”. International Regional Science Review, 11(3), 279-316.
Arbia, G. (2014). “Spatial Econometrics: Abrood View Foundations and in Econometrics”. Spatial Economic Analysis, 8(3-4), 145-265.
Auerbach, A. J. & Hassett, K. (1991). “Recent US Investment Behavior and the Tax Reform Act of 1986: A Disaggregate View”. Carnegie-Rochester Conference Series on Public Policy, Elsevier, 35, 185-215.
Aysun, U. & Kabukcuoglu, Z. (2017). “Interest Rates, R&D Investment and the Distortionary Effects of R&D Incentives”. Villanova School of Business Department of Economics and Statistics, 1-43.
Belotti, F., Hughes, G. & Mortari, A. P. (2013). “XSMLE-A Command to Estimate Spatial Panel Models in Stata”. German Stata Users Group Meeting, Potsdam, Alemania, 1-37.
Belotti, F., Hughes, G. & Mortari, A. P. (2016). “Spatial Panel Data Models Using Stata”. CEIS Research Paper, University of Rom, Tor Vergata, No 373, 1-41.
Bloom, N., Griffith, R. & Van Reenen, J. (2002). “Do R&D Tax Credits Work? Evidence from a Panel of Countries 1979–1997”. Journal of Public Economics, 85(1), 1-31.
Caballero, R.J., (1999). "Aggregate Investment". Handbook of Macroeconomics, in: J. B. Taylor & M. Woodford (ed.), Handbook of Macroeconomics, Elsevier, Edition 1, Volume 1, Chapter 12, Pages 813-862.
Caldera, A. & Debande, O. (2010). “Performance of Spanish Universities in Technology Transfer: An Empirical Analysis”. Research Policy, 39(9), 1160-1173.
Capron, H. & De La Potterie, B. V. P. (1997). “Public Support to R&D Programmes: an Integrated Assessment Scheme”. OCDE: Policy Evaluation in Innovation and Technology Towards Best Practices OCDE París, 35-47.
Carvalho, A. (2012). “Why are Tax Incentives Increasingly Used to Promote Private R&D?”. Economic Essays, 10, 113-130.
Cassiman, B. & Martinez-Ros, E. (2007). “Product Innovation and Exports, Evidence from Spanish Manufacturing”. IESE Business School, Barcelona. 1-36.
Chirinko, R. S. (1993). “Business Fixed Investment Spending: Modeling Strategies, Empirical Results, and Policy Implications”. Journal of Economic Literature, 31(4), 1875-1911.
Corrado, L. & Fingleton, B. (2012). “Where is the Economics in Spatial Econometrics?”. Journal of Regional Science, 52(2), 210-239.
Cummins, J. G. & Hassett, K. A. (1992). “The Effects of Taxation on Investment: New Evidence from Firm Level Panel Data”. National Tax Journa, 45(3), 243-251.
Dagenais, M. G., Mohnen, P. & Therrien, P. (1997). “Do Canadian Firms Respond to Fiscal Incentives to Research and Development?”. CIRANO Montreal.
Daghighi Asli, A., Pajooyan, J. & Mousavi, S. S. H. (2013). “The Effect of Government Budget Appropriations or Outlays on Research and Development on Economic Growth in Europe Union Countries”. International Researrch Journal of Applied and Basic Science, 7(11), 709-717.
David, P. A., Hall, B. H. & Toole, A. A. (2000). “Is Public R&D a Complement or Substitute for Private R&D? A Review of the Econometric Evidence”. Research Policy, 29(4-5), 497-529.
Dixit, A. K., Dixit, R. K., Pindyck, R. S. & Pindyck, R. (1994). “Investment under Uncertainty". Princeton University Press, 1-445.
Drejer, I. (2004). “Identifying Innovation in Surveys of Services: A Schumpeterian Perspective”. Research Policy, 33(3), 551-562.
Dunning, J. H. (2002). “Regions, Globalization, and the Knowledge Economy”. Oxford University Press, 1-57.
Elhorst, J. P. (2010). “Applied Spatial Econometrics: Raising the Bar”. Spatial Economic Analysis, 5(1), 9-28.
Falk, M. (2006). “What Drives Business Research and Development (R&D) Intensity Across Organisation for Economic Co-operation and Development (OECD) Countries?”. Applied Economics, 38(5), 533-547.
Furman, J. L., Porter, M. E. & Stern, S. (2002) “The Determinants of National Innovative Capacity”. Research Policy, 31(6), 899-933.
Geda, A. (2005). “Export Development Strategy, Export Success Stories and Lessons for Africa”. The Challenge for Afreximbank. Harare, Zimbabwe, Conference Paper.
Griliches, Z. & Lichtenberg, F. R. (1984). “R&D and Productivity Growth at the Industry Level: is there Still a Relationship?”. R&D, Patents, and Productivity: University of Chicago Press, 465-502.
Griliches, Z. (1973). “Research Expenditures and Growth Accounting”. Science and Technology in Economic Growth: Springer, p. 59-95.
Grossman, G. M. & Helpman, E. (1991). “Trade, Knowledge Spillovers, and Growth”. European Economic Review, 35(2-3), 517-526.
Guellec, D. & De La Potterie, B. V. P. (2000). “Applications, Grants and the Value of Patent”. Economics Letters, 69(1), 109-114.
Guellec, D. & De La Potterie, B. V. P. (2003). “The Impact of Public R&D Expenditure on Business R&D”. Economics of Innovation and New Technology, 12(3), 225-243.
Hall, B. & Van Reenen, J. (2000). “How Effective are Fiscal Incentives for R&D? A Review of the Evidence”. Research Policy, 29(4-5), 449-469.
Harris, R. & Moffat, J. (2011). “Innovation and Exporting”. Spatial Economics Research Centre, SERC Discusstion Paper, 73, 1-60.
Harris, R., Li, Q. C. & Trainor, M. (2009) “Is a Higher Rate of R&D Tax Credit a Panacea for Low Levels of R&D in Disadvantaged Regions?”. Research Policy, 38(1), 192-205.
Herrera, M. (2017). “Spatial Econometrics Methods Using Stata”. Luxembourg Institute of Socio- Economic Research, National University of Salta (Argentina), Belval, 15th.
Jaffe, A. B. (1986). “Technological Opportunity and Spillovers of R&D: Evidence from Firms: Patents, Profits and Market Value”. National Bureau of Economic Research Cambridge, Mass., USA, 76(51), 984-1001.
Javier, R. & Martin, B. (2004). “The Role of Multinational Corporation in Metropolitan Innovation Systems- Empirical Evidence from Europe and South- East Asia”. Conference Paper, Portugal, 1-35.
Köhler, C., Laredo, P. & Rammer, C. (2001). “The Impact and Effectiveness of Fiscal Incentives for R&D”. Manchester Institute of Innovation Research, 1-37.
Lach, S. (2007). “Immigration and Prices”. Journal of Political Economy, 115(4), 487-548.
Lee, L. F. (2004). “Asymptotic Distributions of Quasi‐Maximum Likelihood Estimators for Spatial Autoregressive Models”. Econometrica, 72(6), 1899-1925.
LeSage, J. & Pace, R. K. (2009). “Introduction to Spatial Econometrics”. Chapman and Hall/CRC, 374 Pages.
Levy, D. M. & Terleckyj, N. E. (1983). “Effects of Government R&D on Private R&D Investment and Productivity: a Macroeconomic Analysis”. The Bell Journal of Economics, 14(2), 551-561.
Levy, D. M. (1990). “Estimating the Impact of Government R&D”. Economics Letters, 32(2), 169-173.
Lichtenberg, F. R. (1987). “The Effect of Government Funding on Private Industrial Research and Development: A Re-Assessment”. The Journal of Industrial Economics, 36(1), 97-104.
Liu, X. & Buck, T. (2007). “Innovation Performance and Channels for International Technology Spillovers: Evidence from Chinese High-Tech Industries”. Research Policy, 36(3), 355-366.
Lokshin, B. & Mohnen, P. (2013). “Do R&D Tax Incentives Lead to Higher Wages for R&D Workers? Evidence from The Netherlands”. Research Policy, 42(3), 823-830.
Lucas, Jr. H. C., Walton, E. J. & Ginzberg, M. J. (1988). “Implementing Packaged Software”. MIS Quarterly, 537-549.
Lumenga-Neso, O., Olarreaga, M. & Schiff, M. (2005). “Onindirect' Trade-Related R&D Spillovers”. European Economic Review, 49(7), 1785-1798.
Maddala, G. S. (1983). “Limited-Dependent and Qualitative Variables in Econometrics”. Cambridge University Press.
Mateut, S. (2018). “Subsidies, Financial Constraints and Firm Innovative Activities in Emerging Economies”. Small Business Economics, 50(1), 131-162.
Mohnen, P. & Lokshin, B. (2010). “What Does it Take for an R&D Tax Incentive Policy to be Effective?”. Reforming Rules and Regulations. 33-58.
Moncada-Paternò-Castello, P., Vivarelli, M. & Voigt, P. (2011). “Drivers and Impacts in the Globalization of Corporate R&D: An Introduction Based on the European Experience”. Industrial and Corporate Chang, 20(2), 585-603.
Montmartin, B. & Herrera, M. (2015). “Internal and External Effects of R&D Subsidies and Fiscal Incentives: Empirical Evidence Using Spatial Dynamic Panel Models”. Research Policy, 44(5), 1065-1079.
Montmartin, B. & Massard, N. (2015). “Is Financial Support for Private R&D Always Justified? A Discussion Based on the Literature on Growth”. Journal of Economic Surveys, 29(3), 479-505.
Montmartin, B. (2013). “Centralized R&D Subsidy Policy in an NEGG Model: A Welfare Analysis”. Recherches Économiques De Louvain, 79(1), 5-34.
Moreno, R., Paci, R. & Usai, S. (2003). “Spatial Distribution of Innovation Activity, The Case of European Regions”. Contributi di Ricerca CRENoS, 3(10), 1-15.
Nadiri, M. I. & Mamuneas, T. P. (1996). “Contribution of Highway Capital to Industry and National Productivity Growth”. Federal Highway Administration Washington, DC.
Oates, W. E. (1993). “Fiscal Decentralization and Economic Development”. National Tax Journal, 46(2), 237-243.
Pellens, M., Peters, B., Hud, M., Rammer, C. & Licht, G. (2018). “Public Investment in R&D in Reaction to Economic Crises-A Longitudinal Study for OECD Countries”. ZEW-Centre for European Economic Research Discussion Paper, 35 Pages.
Puga, D. & Trefler, D. (2010). “Wake up and Smell the Ginseng: International Trade and the Rise of Incremental Innovation in Low-Wage Countries”. Journal of Development Economics, 91(1), 64-76.
Reddy, P. & Staff, R. P. (2000). “Globalization of Corporate R&D”. London & New York, Routledge, 1-46.
Reddy, P. (1997). “New Trends in Globalization of Corporate R&D and Implications for Innovation Capability in Host Countries: A Survey from India”. World Development, 25(11), 1821-1837.
Rogers, E. M. & Shoemaker, F. F. (1971). “Communication of Innovations; A Cross-Cultural Approach”. Institute of Education Sciences (ERIC), 476 Pages.
Romer, P. M. (1986). “Increasing Returns and Long-Run Growth”. Journal of Political Economy, 94(5), 1002-1037.
Romer, P. M. (1990). “Endogenous Technological Change”. Journal of Political Economy, 98 (5): S71-S102.
Rosenberg, N. (1982). “Learning by Using Inside the Black Box: Technology and Economics". Cambrige University Press, HC 79. T4R 673, 305 Pages.
Schott, K. (1981). “Industrial Innovation in the United Kingdom, Canada, and the United States”. British-North American Committee, Economic Development, 65 Pages.
Schumpeter, J. A. (1939). “Business Cycles A Theoretical Historical, and Statistical Analysis of The Capitalist Process”. New York Toronto London: McGraw-Hill Book Company, 461 PP.
Shin, T. (2006). “Behavioural Additionality of Public R&D Funding in Korea”. Government R&D Funding and Company Behaviour, 167-180.
Spar, D. L. (1998). “Attracting High Technology Investment: Intel's Costa Rican Plant”. World Bank Publications, 1-38.
Sullivaan, D. & Unwin, D. (2003). “Geographic Information Analysis". John Wiley & Sons, INC, 439 Pages.
Tidd, J., Bessant, J. & Pavitt, k. (2005). “Managing Innovation Integrating Technological, Market and Organizational Change”. Wiley, Business & Economics, 608 Pages.
Timmons, J. A. & Bygrave, W. D. (1986). Venture Capital's Role in Financing Innovation for Economic Growth". Journal of Business Venturing, 1(2), 161-176.
Topcu, B. & Kilavuz, E. (2012). “Revealed Comparative Advantage and Competitiveness of the Turkish Manufacturing Sector in the European Market”. International Journal of Economics and Finance Studies, 4(2), 21-35.
Wilson, D. J. (2009). “Beggar thy Neighbor? The in-State, Out-of-State, and Aggregate Effects of R&D Tax Credits”. The Review of Economics and Statistics, 91(2), 431-436.
Wolff, G. B. & Reinthaler, V. (2008). “The Effectiveness of Subsidies Revisited: Accounting for Wage and Employment Effects in Business R&D”. Research Policy, 37(8), 1403-1412.
Wonglimpiyarat, J. (2010). “Innovation Index and the Innovative Capacity of Nations”. Futures, 42(3), 247-253.
Yu, J., De Jong, R. & Lee, L. F. (2008). “Quasi-Maximum Likelihood Estimators for Spatial Dynamic Panel Data with Fixed Effects when Both n and T are Large”. Journal of Econometrics, 146(1), 118-134.
)