A dynamic general equilibrium model for public R&D investment in Taiwan

文化大學機構典藏 CCUR > 社會科學院 > 經濟學系暨經濟學系碩博士班 > 期刊論文 > Item 987654321/21128

Please use this identifier to cite or link to this item: https://irlib.pccu.edu.tw/handle/987654321/21128

Title:	A dynamic general equilibrium model for public R&D investment in Taiwan
Authors:	Bor, YJ (Bor, Yungchang Jeffery) Chuang, YC (Chuang, Yih-Chyi) Lai, WW (Lai, Wei-Wen) Yang, CM (Yang, Chung-Min)
Contributors:	經濟系
Keywords:	Public RD investment CGE model Economic development policy Input-output analysis
Date:	2010-01
Issue Date:	2011-12-22 09:54:54 (UTC+8)
Abstract:	In terms of economic development policies, public research and development (R&D) investment may be one of the most critical and useful tools in Taiwan, having frequently played a role in leading related overall investment in Taiwan. Although the impact channels of R&D investment are varied and complex. its benefits in terms of the development of human capital, industrial productivity, and basic research are clear. With the rapid growth of the private sector in the Taiwan economy, it is, however, debatable whether the government should continue to use the public financial budget to invest in R&D. By using a computable general equilibrium (CGE) model to simulate the impact of public R&D investment on the economy in Taiwan, the empirical evidence of the present paper is that public R&D investment gives rise to different short-term and medium-term impacts on real GDP that are mostly felt in the third or fourth years of their implementation among different industries. These impacts then gradually converge back to equilibrium in the long run. Public R&D investment boosts the technology of high-tech industries and increases exports, but it also crowds out the output of primary industries. Although the public R&D investment has a positive effect on the real wage, its effect on inflation should not be overlooked. Because of the pros and cons surrounding the impact of public R&D investment on industries and the economy, the study provided by the present paper can serve as valuable reference not only to decision-makers in government agencies but also to academic researchers. (c) 2009 Elsevier B.V. All rights reserved.
Appears in Collections:	[經濟學系暨經濟學系碩博士班] 期刊論文

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