Factors Associated with Economic Growth: An Investigation on the Government Spending in R&D.

This chapter aims to study the impact of R&D programs on economic growth. The long-run growth rate is fueled by R&D investment, and the government levies taxes on labor income and capital returns to finance this investment. The research investigates the interplay between R&D activity and...

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Autor principal: Trần, Nhật Thiện
Format: Book part
Idioma:English
Publicat: World Scientific Publishing Co. Pte. Ltd. 2022
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Accés en línia:http://scholar.dlu.edu.vn/handle/123456789/862
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Sumari:This chapter aims to study the impact of R&D programs on economic growth. The long-run growth rate is fueled by R&D investment, and the government levies taxes on labor income and capital returns to finance this investment. The research investigates the interplay between R&D activity and the effects of tax policies. In particular, this study shows that a rise in R&D investment enhances the efficiency of unskilled labor so that income inequality between unskilled and skilled workers can be reduced, consequently increasing economic growth.