earticle

영어

This study examined the impact of government R&D expenditure on total factor productivity(TFP), for the government R&D projects in which private companies participated. The impact on TFP was analyzed for the whole industry, manufacturing industry, service industry, and 11 sub-manufacturing industries. The empirical results show that the government R&D expenditure contributes to the increase in total factor productivity on non-metallic mineral products, basic metal products, fabricated metal products except machinery and furniture, and electronic and electrical equipment. This implies that government R&D expenditure contributes to the growth of Motor vehicles and parts, Ship building and repairing, Primary iron and steel products, Electronic components and accessories, Semiconductors and related devices, and Display panel industries.