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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| Format: | Book part |
| Language: | English |
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World Scientific Publishing Co. Pte. Ltd.
2022
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| Online Access: | http://scholar.dlu.edu.vn/handle/123456789/862 |
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| Institutions: | Thư viện Trường Đại học Đà Lạt |
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| Summary: | 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. |
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