international business
R&D AND ECONOMIC DEVELOPMENT
SARAH ALSIWAN
Eastern Washington University, Department of Management, 668 N. Riverpoint Blvd., Suite A Spokane, WA 99292, USA sarah.alsiwan@eagles.ewu.edu SALEM BUKHRES
Eastern Washington University, Department of Management, 668 N. Riverpoint Blvd., Suite A Spokane, WA 99292, USA salem.bukhres@eagles.ewu.edu ASHTON MILLER
Eastern Washington University, Department of Management, 668 N. Riverpoint Blvd., Suite A Spokane, WA 99292, USA ashton.miller@eagles.ewu.edu REANNAN ORTMAN
Eastern Washington University, Department of Management, 668 N. Riverpoint Blvd., Suite A Spokane, WA 99292, USA ray_alexa@eagles.ewu.edu Abstract
Many believe that a country cannot go wrong with investing in R&D. It has been said that innovation is a key driver for economic growth in both developed and developing countries. This research aimed to understand the relationship between R&D spending, innovation, and economic development within the different stages of economic development. Many relationships are looked at within stages of development. This research is an extension of Kawahara, Light, Lu, Ristori, and Steenhuis (2013) work on R&D and economic development. The research shows that countries in different stages of development are affected by R&D spending and innovation differently.
Keywords: R&D, innovation, economic development
Introduction
Continuous change in today’s modern world leaves companies, and ultimately countries, facing the challenge of responding to trends and competition. Taking effective measures in order to sustain long-run growth and development is just one example of a response to the change. The continual rapid pace of innovation and increases in productivity has continued for most of the century. Knowing this, it is important to recognize that innovation has a wide range of activities and measures (Greenstone and Looney, 2011). The Global
SARAH ALSIWAN
Eastern Washington University, Department of Management, 668 N. Riverpoint Blvd., Suite A Spokane, WA 99292, USA sarah.alsiwan@eagles.ewu.edu SALEM BUKHRES
Eastern Washington University, Department of Management, 668 N. Riverpoint Blvd., Suite A Spokane, WA 99292, USA salem.bukhres@eagles.ewu.edu ASHTON MILLER
Eastern Washington University, Department of Management, 668 N. Riverpoint Blvd., Suite A Spokane, WA 99292, USA ashton.miller@eagles.ewu.edu REANNAN ORTMAN
Eastern Washington University, Department of Management, 668 N. Riverpoint Blvd., Suite A Spokane, WA 99292, USA ray_alexa@eagles.ewu.edu Abstract
Many believe that a country cannot go wrong with investing in R&D. It has been said that innovation is a key driver for economic growth in both developed and developing countries. This research aimed to understand the relationship between R&D spending, innovation, and economic development within the different stages of economic development. Many relationships are looked at within stages of development. This research is an extension of Kawahara, Light, Lu, Ristori, and Steenhuis (2013) work on R&D and economic development. The research shows that countries in different stages of development are affected by R&D spending and innovation differently.
Keywords: R&D, innovation, economic development
Introduction
Continuous change in today’s modern world leaves companies, and ultimately countries, facing the challenge of responding to trends and competition. Taking effective measures in order to sustain long-run growth and development is just one example of a response to the change. The continual rapid pace of innovation and increases in productivity has continued for most of the century. Knowing this, it is important to recognize that innovation has a wide range of activities and measures (Greenstone and Looney, 2011). The Global
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