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E14-307_GarciaRodriguez.pdf (495.4 KB)

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Working paper

Publication date

2014

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cc-by-nc-nd, (c) Sánchez-Losada et al., 2014
Please use this identifier to cite or link to this item: https://hdl.handle.net/2445/52848

R&D poverty traps

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Abstract

In this paper we show that the R&D effort of a country and its economic growth are highly correlated. In order to analyze this relationship, we study the nature of the researching activity. In particular, we focus on the following characteristics of research: the inherent uncertainty of researching, the existence of a wage premium associated to innovative activities, and moral hazard. Assuming that a higher R&D effort translates into a higher R&D success probability, we show that when the R&D success probability is low, the economy is not willing to bear the risk associated to R&D activities. As a consequence, few researchers are hired and the economy stays in an R&D poverty trap, a situation where the economy is stacked in a low growth environment due to the uncertainty associated with the researching activity.

Subject

Desenvolupament econòmic, Innovacions tecnològiques, Propietat intel·lectual, Política governamental

Subject (English)

Economic development, Technological innovations, Intellectual property, Government policy

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UB Economics – Working Papers [ERE]
Documents de treball / Informes (Economia)

Citation

SÁNCHEZ-LOSADA, Fernando and GARCÍA RODRÍGUEZ, Abián. R&D poverty traps. UB Economics – Working Papers. 2014. Vol.  E14/307. ISSN 1136-8365. [consulted: 9 of August of 2026]. Available at: https://hdl.handle.net/2445/52848

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