《在工业化国家的高新技术产品出口和经济增长【外文翻译】》由会员分享，可在线阅读，更多相关《在工业化国家的高新技术产品出口和经济增长【外文翻译】（11页珍藏版）》请在金锄头文库上搜索。
1、1本科毕业论文外文原文外文题目： High-tech exports and economic growth in industrialized countries 出 处： Economics 作 者： Martin Falk 原 文：High-tech exports and economic growth in industrialized countriesMartin FalkAustrian Institute of Economic Research (WIFO)AbstractThe present article provides new evidence on the im
2、pact of the change in the high-tech export share on economic growth in OECD countries. We estimate a dynamic growth model on panel data for 22 OECD countries for 19802004, in which the data is measured as 5-year averages. Using the system GMM panel estimator, which corrects for simultaneity, we find
3、 that both business R&D intensity and the share of high-tech exports are significantly positively related to the GDP per working age population. The estimated elasticities are rather sizable but the magnitude suggests that business R&D intensity is more important than the share of high-tech exports
4、in explaining GDP per working age population.1. IntroductionThe share of high-technology exports in total manufacturing exports has increased considerably in OECD countries throughout the last 25 years. Some OECD countries such as Finland, Ireland, Korea, the Netherlands and the United Kingdom have
5、increased their high-tech export share more than other countries. Similarly, the change in the ratio of business 2expenditures on R&D (BERD) to GDP has also unevenly evolved across OECD countries. The differences in the evolution of high-technology export share and business R&D intensity have attrac
6、ted substantial policy interest. Business R&D intensity is commonly identified as the main input factor in the innovation process, while the share of high-tech exports is regarded as an important measure of innovation output. Both measures are widely used in order to benchmark a countrys innovation
7、performance. Given the interest in the specific innovation indicators, it is natural to ask as to which of the two factors is more important for economic growth.The related empirical literature agrees that investment in R&D is one of the most significant factors affecting the differences in GDP and
8、productivity growth (Bassanini and Scarpetta, 2001).However, the relationship between high-tech exports and economic growth in industrialized countries remains somewhat unclear. Crespo-Cuaresma and Wo rz (2005) found that the export share of technology-intensive industries is significantly positivel
9、y related to the GDP per capita only for the sample of non-OECD countries, but not for the sample of OECD countries. Using the data for OECD countries, Peneder (2003) finds that exports of technology driven industries have a positive and significant impact on the level and growth of the GDP per capi
10、ta. What is common to all in the previous studies is that they suffer from an omitted variable bias since they exclude the R&D intensity as a measure of innovation input.The aim of the present article is to provide new insights into the impact of high-tech exports on economic growth. The growth equa
11、tion is estimated using the system generalized method of moments (GMM) panel estimator based on panel of 22 OECD countries for the period 1980 to 2004, in which the data are measured as 5-year averages.2. Empirical ModelThe empirical model is based on the human capital augmented Solow model that was
12、 introduced by Mankiw et al. (MRW) (1992). Nonneman and Vanhoudt (1996) extended the MRW model by adding the ratio of R&D to GDP. We further augment the MRW model by adding a measure of innovation output such as the high-tech export share as an alternative to R&D intensity. Following Caselli et al.
13、(1996), the steady state level of GDP per capita based on panel data can be described as:3where is per capita GDP of the working age population expressed in 1995 purchasing power parities in country i in period t, where is a country specific effect, is a period-specific effect, and it is an error-te
14、rm. The set of explanatory variables includes the investment ratio, INVit, the ratio of business enterprise R&D expenditures to GDP (BERD), RDGDPit, average years of education in the working age population (from 25 to 64 years of age) taken from Barro and Lee, 2000), EDUit and the share of high-tech
15、 exports to total manufacturing exports We can derive the regression equation by taking first differences in order to remove unobserved time-invariant, country specific effects (for the sake of notational convenience, x shall comprise the explanatory variables):Assuming the residuals of the level eq
16、uation are serially uncorrelated, the values of y lagged two periods or more can be used as instruments in the first-differenced equation. This implies the following moment condition:In order to deal with the potential endogeneity problem, we assume that the explanatory variables in x are predetermined, rathe
