International Journal of Information, Business and Management,.docx

International Journal of Information, Business and Management,
Vol. 7, No.3, 2015
ISSN 2076-9202
51
The impact of research and development (R&D) on economic
growth: The
case of the MENA countries.
1
Lamia Ben Amor and
2
Naceur Ben Zina
1. Member and researcher at the unit of reasearch, economic and
developpement at the University of
Economics and Management of Sfax, Tunisia.
2. Associate Professor of Economics at the Unit of Dynamic
Economics and Environmental Research
(URDEE) at the University of Economics and Management of
Sfax, Tunisia.

* Corresponding Author E-mail: [email protected]
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ABSTRACT
The aim of this paper is to study the relationship between
research and development (R & D) and
economic growth. We will try to enlighten, from a theoretical
side, the importance of R&D as a critical
factor for recovery.
This empirical study is based on different estimation methods
developed in the context of a static panel on
a sample of 15 countries over the period 1980-2009. The
methods used are the GMM (Generalized
Method of Moments), the OLS (Ordinary Least Squares) and
causality tests, a unit root applied to panel
data. The overall findings identify a positive and significant
relationship.
JEL Codes: C33, D83, F43.
Keywords: R & D, Economic Growth, Static Panel Model.
1. INTRODUCTION

To cope with the increased globalization, competition from
emerging economies and ever-changingneeds
of consumers, the economies of industrialized countries are
increasingly relying on the activities of
research anddevelopment, which are essential to provide the
firms with the competitive advantages
necessary for their competitiveness.
According to the OECD (2004), expenditure on research and
development (R & D) conducted
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inindustrialized countries (EU, U.S., Japan) increased from 396
billion euros in 1995 to more than680
billion in 2003. In the same way, some emerging economies
seem to be determined also to increase their
technological capital. Let us takeChina as an example: by
reference to OECD, its expenditure of R& D
expressed as a percentage of the GDP (gross domestic product)
doubled during the period 1995 -2002.

Indeed, they went from 0.6% to 1.2%.
The key role of R & D in the competitiveness of firms led by
industrialized countries to seekterritories
and more attractive partners to carry out their innovation
strategies, including emergingmarkets, which
should increase their technological capital. R&D often implies
a set of cumulativeprocesses of
inventions and innovations, skills and know-how. Through its
horizontal and verticaldiversification of
goods and services, it is considered as the generator of technical
progress. R&D, innovation,
technological developments have been regarded since the
second half of the eighteenth century as an
indisputable source of productivity growth. However, the non-
rival and partially excludable product of
R&D recognizes that certain agents or sectors have not fully
developed the capabilities of their own
R&D, thus benefiting from other’s R&D.
The major objective of this paper is to examine the impact of
research and development (R&D) on
economic growth in MENA countries as host countries. A
developing country that suffers from
under-capacity in R&D efforts can benefit from international

R&D. We have choosen a sample of these
countries ( we selected 15 countries: Algeria, Bahrain, Djibouti,
Egypt, Iran, Israel, Jordan, Kuwait,
Malta, Morocco, Palestine, Saudi Arabia, Syria, Tunisia, UAE)
during the period 1980 - 2009 in which
information is available on R&D expenditure. (We chose this
period starting from 1980 due to
unavailability of data for some countries before the year 1980
as Tunisia and Algeria). This paper is
structured as follows: The next section describes the literature
on research and development (R&D)
where we particulary analyze the importance of R&D in
economic growth. Indeed, this paper is a
general summary of the reason for having a link between R&D
and economic growth.
As for the the third section, it presents our empirical validation
test based on static panel data. The
appropriation of R&D is the subject of section four.
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53
2. Literature review on research and development (R&D)
The recent economic studies whether on theories of endogenous
growth or on international trade show
that thebenefits of R&D do not stop at national borders. In this
context, Eaton and Kortum (1996)
estimated that the foreign R&D accounted for 87% of
productivity growth in France. While 60% gain
inproductivity in Japan is provided byU.S R&D, against 20% of
U.Searnings due to Japanese R & D.
The importance of technological innovation and R&D
expenditure in economic growth has drawnthe
attention of economists since the launch of the research on the
origin of the concept of"residue" stated
by Solow (1957). It has become much more explicit in the
recent years due tothe theoretical
developments undertaken in the framework of the theory of
endogenous growth.
Moreover, the impact of R&D on productivity growth has been
the subject of several studies:Griliches
(1979), Mairesse and Cuneo (1985), Dosi (1988). The true
modelling of R&Dstarted as from the years
1990s. Indeed, the activity of R&D represents the important

source ofdevelopment of new knowledge
and technological innovation (Crossman and Helpman (1991)).
In the same way for Romer (1990), it leads to technological
innovations. Contributions came then With
Aghion and Howitt (1998). In addition, it is a dominating
source of economic growth. In fact, theactivity
of R& D took a great importance in the recent models of the
endogenous growth whosecreative
processes and diffusion of technology constitute the important
engines. Moreover, R&D isconsidered as
a product of technology. It is used to improve the living
standard, increase theproductivity of the factors
of production and stimulate economic growth.
In this context, we present the theoretical and empirical basis as
well as the nature of research
anddevelopment (R&D). In other words, we highlight the
endogenous theory of growth where R&D
plays a fundamental role. Then, we will try to identify the
effect of R&D on the economic growthof the
MENA countries starting from a static panel model. Within this
context, it makes thetheoretical,
empirical, and the nature of research and development (R&D).
It focuses on the theory of endogenous

growth where R&D occupies a fundamental role.
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Thus, with the increased interdependence of economies, this
process of dissemination of knowledge and
expertise is gaining importance internationally. In addition,
international agreements between countries
require them to confront international competition based on
competitiveness and differentiation
capabilities. In addition, total factor productivity (TFP) of a
given country depends not only on its own
stock of R&D but also on that of its partners.
In this context, we present the theoretical and empirical basis as
well as the nature of research and
development (R&D). In other words, we highlight the
endogenous theory of growth where theR& D
plays a fundamental role. Then, we will try to identify the

effect of R&D on the economic growth of the
MENA countries starting from a static model of panel. Thus,
with the increased interdependence of
economies, this process of dissemination of knowledge and
expertise is gaining importance
internationally. In addition, international agreements between
countries require them to confront
international competition based on competitiveness and
differentiation capabilities. In addition, total
factor productivity (TFP) of a given country depends not only
on its own stock of R&D but also that of
its partners.
Thanks to modernization and fast technological development,
the research and development (R&D)
constitutes an important factor of growth. Moreover, it is
essential to follow the activities of R&Dto
work out adequate policies and analyze them well. This idea is
dictated by a certain number
oftheoretical and factual arguments.
Concerning the theoretical arguments, we notice that the
numberof new models of the endogenous
economic growth rises by giving a particular importance to
theactivity and expenditure in the research

and development. Indeed, R&D constitutes a primary source for
technological advance and economic
growth. Besides, the development andenrichment of the
research fields of the international
macro-economy, following the intensificationand the
diversification of the sources of interdependence
of the economies, represent important factors.
As for the factual arguments, we notice the attention given by
certain countries, such asTunisia which has
highlighted the activity of the research and development since
theimplementation of a program of
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structural adjustment (PSA). This program created, in 1991, a
newpublic agency which takes care of the
promotion of innovation (the Secretariat of State to
the“Scientific research” and technology). Hence, the
very fast evolution of telecommunication and information
technologies in the world and their

implication on the total productivity of the factorsof the
companies constitutes an important factor. In
fact, several authors are interested in thisphenomenon by taking
it as a fundamental subject of research.
Frascati (1993), for example, definedR&D as the whole set of
work of creation undertaken in a systematic
way to increase the stock ofknowledge and its importance for
new applications. In his Handbook
entitled “Standard Methodsuggested for the investigations into
research and experimental development”,
OECD distinguishes three forms of R&D:
� Fundamental R&D: the expenditure is devoted to the analysis
of the properties, the structures
andthe physical and natural phenomena, in order to organize
the facts in general laws by means
ofexplanatory diagrams and interpretative theory.
� Applied research: it allows the operational working of ideas.
The knowledge orinformation drawn
from this research is likely to be patented and can be kept
secret. This typeisundertaken either to
distinguish the possible applications of the results of a basic
research or to findnew solutions.
� Experimental R&D: it consists of a systematic work founded

on the knowledge obtained by
theapplied research whose objective is to acquire new materials,
devices, products, processes and
services.
The endogenous theory of growth devotes a great importance to
the part played by research
anddevelopment in the productivity growth making it in the
centre of several studies. R&D isregarded as
a primary source of technological advance, and especially
represents one of the enginesof economic
growth for the countries which devote much effort to research
and development inthe form of expenditure.
Since the activity of R&D is a form of knowledge, it represents
the mainway of developing new
knowledge and technological innovation for the developed
countries (Crossman-Helpman (1991)). These
countries devote important financial resources to this
activitywhich acts positively on growth in terms of
productivity. Therefore the real expenditure of R&D in these
countries increases in a remarkable way. The
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case for the developing countries is completelydifferent. These
countries do not carry out research
activities by themselves.
However, they benefitmainly from the technical change which
takes place in the developed countries
thanks to their opening on the outside world through the
importation of new technologies incorporated in
capitalequipment.
The theory of growth shows the role of the technological
advance in the invention of new machines and
new intermediate goods which give way to the possibility of
investment.
The human capital andtechnology are two facets of the same
phenomenon, two factorsfor the
accumulation ofknowledge as the strategic role of knowledge
explains the increase in the immaterial
investment. Lucas (1988) considers that education is an
investment in human capital ; in his model,
knowledge is considered under its individual aspect (education,
formation) andhe seek to integrate more

significant dimensions as well as the objectives of knowledge.
As knowledge is the result of a collective activity and research
takes the form oftechnology. The key idea
is that research is an investment. Actually, we notice that the
20 last years have been characterized by a
development inthe activities of R&D. Indeed, in all OECD
countries, the firms have strongly raised
theirexpenditure on R&D. Investment in R&D is today more
than even before, a conditionof the growth
of nations. In fact, the activity of R&D necessarily goes
through the existence of certainqualifications
which can control the tools of research.
Innovation, technological advance and research and
development (R&D) evolve by playing a very
important part in the process of economic growth. These last
years have been characterized by
theappearance of many research orientations, thanks to the
differences in terms of the growth rate of
thereal income per capita and also to other factors which propel
the process of research. In this respect,
we can primarily distinguish three factors in favour of the
evolution
of this process. But, what isinteresting is that there is always a

persistence of differences in terms of
income by capita on the international level. These successive
factors are:
� An increase in the volume of work.
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� An increase in the stock of capital.
� An increase of the total productivity of the factors of
production “PTF”.
The increase in productivity is directly connected with the
evolution of labourqualifications, on the one
hand, and with innovation and technological advanceon the
other hand. It involves theexistence of more
powerful capital equipment (built-in technological advance) and
results in a greateffectiveness of the two
joined factors of production.
Investments in R&D directly contribute tothe accumulation of
knowledge by giving place to new

products and processes of production thuscontributing to the
improvement of productivity.
The advantages which ensue from the investments in R&D are
spread between the companies and the
organizations. Indeed, the productivitygrowth of a company
depends not only on its activities in R&D,
but also on its efforts towardsthe R&D of the other generating
sectors of knowledge.
Therefore, investment in R&D is regarded as a source of
improvement of productivity. The technological
advance constitutes adetermining factor of growth rate through
its impact on the productivity of the
factors of production.
It includes innovations of a technical and organisational nature.
We distinguish two major types of
innovation:
• Innovations of the products which are used to introduce new
products on the market (example:cds, cars)
or raw materials. Their objective is to offer the consumers a
product which meets theirneeds
(Improvement of the well being).
This type of innovation depends directly on the activities ofthe
R&D.

The innovation of a procedure based on the implementation of
new methods of production.
To day, we clearly observe an expansion of the policies of
innovation mainly in the developed
countrieswhich devote a great investment to the R&D. This
shows the existence of a suitable climate
forinnovation in these countries. It is remarkable that during
these last years, companies of
hightechnology or state-of-the-art technology (data-processing,
pharmaceutical) have
significantlyincreased their expenditure in research and
development. The role of the government
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policiesregarding the R&D should not be neglected. Indeed, the
policies of innovation define the
specificactions of the State, which must, on the one hand,
encourage the accumulation of a qualified

labour and, on the other hand, help the companies prospect the
markets. This justifies the need of
thepublic administrations to support the R&D.
What are then the reasons for the government aid and the
alternative mechanisms available to thepublic
administrations to support the R&D? To answer this question,
we will try to analyze thejustification of the
government aid in the R&D starting from the theories of
economic growth.
In the neo-classical theory of growth, the technological advance
is supposed to be exogenous (Solow
1956). With the long run balance, the growth of the population
and technological advancedetermine the
level of growth rate.
This implies, according to basic assumptions, that long-
termgrowth rate is stable and given in an
exogenous way. Within this framework, the impact of anaction
of the public authorities is practically
ignored.
The neo-classical theory of growth presumes that the economy
starts from a weak relationship between
capital and labour. Similarly, the marginalreturns on capital are
decreasing, which reduces the motivation

for investment in the new capital.
Therefore, each new unit of the capital produces a lower income
and less large savings. In the longrun,
there will be an absence of incentives for investment.
Consequently, the capital growth rate bycapita is
cancelled.
The neo-classical theory of growth presumes an efficient
distribution of resources in the economy. The
assumptions which underlie this theory exclude the modification
from this distribution.
Therefore, the intervention of the State in such an economy is
not justified at least in the field ofefficiency.
Any policy affecting the resource allocation would decrease the
total production anddelay the economic
growth. However, the intervention of the state could be founded
on the criterionof equity. But, the
assumptions underlying the neo-classical theory are not
realistic. Thetechnological change is not always
an exogenous factor outside the market, determined by anun
known process. In the 20th century, a good
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number of discoveries and improvements were madein the
commercial sector by companies with a
lucrative goal and not by public administrations oruniversities
where researches are directed by non
commercial forces.
Markets are seldom in aperfect competition. Moreover, the
private sector cannot produce all the desired
goods and services because some of them are public goods and
others produce external effects.
The endogenous theory of growth recommends the relaxation of
certain neo-classical assumptionsand
incorporates the failures of the market. However, the long-term
economic growth is directed bythe
accumulation of the factors of production namelyfounded this
time, on knowledge, humancapital, training,
R&D and innovation. The neo-classical theory of growth
identifies only one sourceof growth - the
accumulation of the physical capital - which generates
machines, structures and stocks and differs from
the “R&D capital”. The latter includes the highly specializedor

very specialized labour. The neo-classical
theorists do not obviously neglect the other sources, but they
explicitly do not integrate them in the
models by considering that technologicaladvance is an
exogenous variable. On the other hand, the models
of endogenous growth arecharacterized by a great diversity of
selected resources such as the investment
in physical, human and public capital, in the division of labour,
practical training (Learning by doing),
research and technological innovation. The endogenous theory
of growth recommends that
technologicaladvance ensues from the R&D carried out by
profit-making companies. Thus, research and
development constitutes an important factor in the production
process.
The models worked out in this theory try to explain the origin
of the endogenous technologicaladvance
which is characterized by an increase in the variety of the goods
produced or consumed, orby the
improvement of quality. We distinguish, in general, four ways
of research:
� The first one results from the work of Romer (1986) and
seeks the engine of growth in
thephenomenon of practical training which takes place inside

the companies .
� The second, introduced by Lucas in 1988, favours the
accumulation of the human capitalwithin
the educational system.
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� The third insists on the driving role of infrastructure and
public expenditure. This current is
initiated by the work of R. Barro (1990-1991).
� The fourth, based on the work of Romer (1990), Aghion and
Howitt (1998), highlights the role
of R&D or innovation.
We can distinguish three levels of innovationsystems:
� A system of the innovating company;
� A system of the immediate environment of the company;
� A system of the overall environment concerning the general
elements which support

innovation.
In this respect, innovation is first of all: A business of the
companies, which, to innovate, areinteracting
with other companies, government organizations, universities,
etc. Then, it is a system of innovation
which includes these whole factors and their interactions. In
short, the assumption, according to which the
factors determining the long-term growth are endogenous with
the decisionmakingprocess, constitutes
one of the main exemptions from the neo-classical theory of
growth andinvolves important effects on the
policy.
Indeed, if the long-term growth is directed by the factors of
production based on knowledge, which
belongs to the normal structure of the costs of the company,
then the public administrations can influence
the long-term growth by changing the cost of thesefactors via
the direct subsidies, taxincentives or
marketing policies. The endogenous theories ofgrowth provide a
framework of analysis of growth and its
determinants which can also be used to study the impact of the
public policies on the economic growth
and investment in R&D.

3. METHODOLOGY
R&D is a cumulative process of acquisition of competences and
know-how. The transfer oftacit
knowledge is delicate and represents a specific characteristic of
the activity of R&D.Moreover, some
expenses necessary to R&D, such as the capital expenditures
ofinfrastructures, are irrecoverable.
Therefore investment in R&D is an irreversible one and
subjected to uncertainty. From the uncertainty of
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the cumulative process (R&D) emerges adynamic behaviour
research, which provides information on the
intrinsic nature of the good. Themajor objective of this paper is
to know the impact of research and
development (R&D) oneconomic growth in the MENA
countries. (The countries taken in our sample are
about 15; these are: Algeria, Saudi Arabia, Bahrain, Djibouti,

Egypt, UAE, Iran, Israel, Jordan, Kuwait,
Malta, Morocco, Palestine, Syria and Tunisia) during the period
1980 - 2009 where information
onexpenditure on the R&D is available.
We try to follow an approach in which we consider researchand
development to be a fundamental factor
in the economic growth in these countries. This empirical study
and the nature of research and
development (R&D). It focuses on the theory of endogenous
growth where R&D occupies a fundamental
role. Thus, we try to identify the effect of R&D on economic
growth in MENA countries from a static
panel model.
This empirical study is based on different estimation methods
developed recently such as the GMM
(GeneralizedMethod of Moments) and the OLS (Ordinary Least
Squares). Hence, we use the causality
tests andunit root while adopting the recent literature on the
econometrics of panel data.
Finally, we estimatethis model by the method "Full Modified
Ordinary Least Square” (FMOLS), and then
interpret the results.
3.1 Model Overview

Within the framework of this study, we consider a transformed
linear log function Cobb – Douglas of the
following production:
��
��
��
The examined basic model takes as a starting point the work of
Sadraoui and Ben Zina (2007). We limit
ourselves to the study of the simple linear models of the panel
data which are defined inopposition to the
dynamic models using delayed endogenous variables. We
assume that the per capita GDP incurred by
governments is a function of the R & D, capital, and labour. The
model is presented as a log-linear
relationship between variables.
Thus, we define:
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Y: the real gross domestic product per capita for country (i) in
year t;
K: the value of the real capital for country (i) in year t;
L: the labor for country (i) in year t;
RD: the ratio of the expenditure in research and development to
the GDP for country (i) in year t;
��: the term of error.
3.2 Results and interpretations
3.2.1 Graphical representation of the different variables
Figure 1 : Logarithm of Gross Domestic Product
Figure2 : Logarithm of Labor
Figure3 : Logarithm of Capital
9.1
9.2
9.3
9.4
9.5
9.6

9.7
9.8
80 82 84 86 88 90 92 94 96 98 00 02 04 06
LPIB
9.88
9.92
9.96
10.00
10.04
10.08
80 82 84 86 88 90 92 94 96 98 00 02 04 06
LL
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Figure4 : Logarithm of research and development (R&D)
� We note that the gross domestic product (GDP) in this
country is changing significantly. Indeed,
theGDP has been trending upward.
� Moreover, the GDP trend is different according to countries
of MENA. Still, on the other
variables, we distinguish a particular development whose series
show a trend, which makes
non-stationary variables.
�
� A study of the series in level shows that they are not
stationary; the different analysis of each
series shows that they are differenced stationary.
3.2.2 Study of stationarity and cointegration of series
The unit root tests have become a common approach for the
analysis of stationary time series.
However, the implementation of these tests on panel data is
recent. If we refer to the article
"R&DCooperation and Economic Growth", we find that the tests
most frequently used are those of
Levinand Lin (LL) and Im, Pesaran and Shin for (IPS). Indeed,

these two tests are used to study the
10.0
10.5
11.0
11.5
12.0
12.5
80 82 84 86 88 90 92 94 96 98 00 02 04 06
LK
0.4
0.6
0.8
1.0
1.2
1.4
80 82 84 86 88 90 92 94 96 98 00 02 04 06
RD

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nonstationary series. To overcome the low power of tests "LL"
and check the stationary state of
thegroup, we use the IPS method which suggested a unit root
test in the context of a panel data model
using the average individual statistics regressions "ADF". The
longitudinal cross-sectional datashould
ideally meet the assumptions necessary for the application of
the alternative statistica t-bar totest the
null hypothesis of unit root for all i (�� =0)
t ��p�� 1N t��p��
�
�!"
Where: ti T (pi) : represents ADF tests estimated with delayed
différences ;
N : is number of groups N= 1,2,……………….15.

T : The period of time T =1,2,………………..30
IPS suggests the use of fllowing of standardized studies:
Z��√N�t��%E't��(�
)var�t��
Where E (t�� ) and Var ( t�� ) are respectively the arithmetic
means and variances of the individual
ADF statistics, since �� 0. The IPS study shows
that the standardized statistics converges weakly to
the normal standard distribution, allowing to compare it to the
critical values of distribution. The
application of the unit root tests show that LL and IPS are all
statistics assigned to a unit root.
Table 1: Unit root tests
Statistique Y L K RD
Levin- Lin rho-stat -0.04484 0.86878 -0.16490 0.17205
Levin-Lint-rho-stat 0.79204 1.99911 0.71672 1.20149
Levin-Lin
ADF-stat

1.84314 2.15673 0.81625 1.34737
IPS ADF- stat 1.13540 1.89654 -0.83109 0.59321
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The checking of properties of non stationary state for all the
variables of the panel leads us to study the
existence of a long-term relationship between these variables. In
other words, the study of the existence of
a relationship of cointegration, by applying Pedroni’s tests of
co-integration, is based on the unit root tests
of the estimated residuals.
The co-integration tests on panel data are to test the presence of
the unit root in the estimated residuals.
However, the problem of deceitful regressions, well known in
econometrics time series, also arises in the
case of the panel data.
Pedroni‘s tests are of null hypothesis of no co-integration based

on the unit root tests of the estimated
residuals. Pedroni has developed seven homogeneous and
heterogeneous co-integration tests on the
panel data. These tests take into account the heterogeneity in
the co-integration relationship, that is to say
that for every individual, one or more co-integration relations
are not necessarily identical for each panel
individual. The implementation of Pedroni’s tests requires a
first step in estimating the long-term
relationship for each individual described by:
y�/�α��δ�t�β"�x"�/�⋯�β5�x5�/�ε�/
such as : i =1…….N, t =1…….T et m =1………M
In Pedroni’s seven tests, four are based on the dimension
"within" (intra) and three on the dimension
"between" (inter). These two categories are based on the null
hypothesis of no co integration
(non-stationary state of the estimated residuals). The distinction
between the two categories is made on
the level of the alternative hypothesis:
H"�8ρ��ρ:1∀ i:within ρ�:ρ∀ i:between
Pedroni has shown that under appropriate normalizations, based
on functions of Brownian motion, each
of the seven statistics follows a normal rule, centred, and
limited to N and T which are sufficiently

important:
z��%μ√N
√v →N�0,1�
The results are shown in the following table:
Table 2 : Pedroni’s cointegration tests
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66
Rho-stat V-stat PP-stat Adf-stat Rho_stat
1
Pp _stat
1 Adf_stat
1
(y, L, k,
RD)
0 .31934 1.72137 -1.09983 -1.80154 1.76313 -0.94537 -2.62449

Note :
1
: These are tests based on the dimension "BETWEEN"
From the results found in this table, we notice the existence of a
long-term relationship between the
variables, that is to say, a co-integration. To carry out tests of
Co-integration on panel data and to obtain
an estimate of the vectors of Co-integration, it is necessary to
apply an effective method of estimation.
Within this framework, we can distinguish several techniques
such as, the FMOLS method “least square
completely modified” used by Pedroni, the DOLS method
(dynamic least square), the GMM method
“Method of Moments Generalized” and the ML “Maximum of
Probability”. Philips and Moon (1999)
showed that within the framework of the panel data, the FMOLS
and DOLS techniques lead to
asymptotically distributed estimators according to a reduced
centred normal law. Similarly, Pedroni (1996)
affirms that MCO estimators “ordinary Least Square” are
highly- convergent, whereas their asymptotic
distributions are distorted and depend on the parameters of bad
effects. According to Pedroni, these

problems can be more marked in the presence of heterogeneity.
For this model, the estimation of these
co-integral vectors by the FMOLS method and for the whole of
the panel, is given by (T - Student
between brackets):
�G�H �
I.�K
I.�L
I.�M%
�%
N.NL� �
�.N��
O.�
�P
Based on the estimator of Pedroni, the econometric
specification of this model combines the use of the
instrumental variables and the FMOLS method. The use of the
instrumental variables makes it possible to
obtain consistent estimations. Thus, the estimate by the GMM
makes it possible to obtain a diagonal
matrix of correlations.
Table 3 : Correlation matrix
LPIB LL LK RD
LPIB 1.000000 0.954639 0.981909 0.898691

Vol. 7, No.3, 2015
ISSN 2076-9202
67
LL 0.954639 1.000000 0.976842 0.944499
LK 0.981909 0.976842 1.000000 0.911354
RD 0.898691 0.944499 0.911354 1.000000
Yet, we use the Haussman Test (1978) which can be applied to
many problems of specification in
econometrics.
However, its most widespread use is that of the tests of
specification of the individualeffects as a panel. It
is thus used to explain the fixed and random effects. Its general
idea is at thesame time simple and
brilliant. Let us actually suppose that we seek to test the
possible presence ofa correlation or a defect of
specification. Let us admit that we have two types of estimators
for theparameters of the studied model:
the first estimator is supposed to be predetermined while the
second is not. Consequently, all what we

have to do is to compare a distance balanced by a matrixof
variance- covariance between the two
estimators to be able to determine whether thespecification is
correct or not. In fact, the technical use of
this principle in this model makes itpossible to obtain a matrix
of variance -covariance having good
properties.
Table 4 : Variance- covariance Matrix
C LL LK RD
C 5.812536 -0.615414 0.025530 0.033289
LL -0.615530 0.065199 -0.002745 -0.003432
LK 0.025530 -0.002745 0.000157 438 E-05
RD 0.033289 -0.003432 438 E-05 0.000476
The econometrics of the panel makes it possible to control the
heterogeneity of the observations intheir
individual dimensions either by taking into account a
presumably certainspecific effect, “Fixedeffects”,
or by considering a non observable specific effect (Radom
effects). In this work, we examine the link
between R& D and growth in various countries. On a sample of
15 countries during the period 1980 -

2009, the results of the obtained estimates using the various
methods instatic panel, show that the
Vol. 7, No.3, 2015
ISSN 2076-9202
68
impact of R& D on growth varies according to the indicator of
theinternal expenditure of research and
development “DIRD” of each country taken in the sample.
Onthe basis of this last indicator, it arises from
the estimates that the increase in apoint of percentageof this
indicator is brought to 0.427 point of
additional growth. The application of the tests of unitroot LL
and IPS shows that the whole of the
statistical series is affected of a unit root. The checking of the
properties of non stationary state for all
the variables of the panel leads us to Study the existence of a
relation of long run between these variables.
In other words, we study theexistence of a relation of co-
integration by applying the co-integration tests
of Pedroni. Moreover, we use the technique of the tests of unit

root in order to represent the estimated
“residues” of the various countries included in our sample
model.
4. CONCLUSION
At the end of this research, the inventory of the main theoretical
arguments and empirical results
obtained reveal and confirm the importance of the R&D in the
stimulation of growth. The drawn
conclusions are also of a theoretical and empirical nature. On
the theoretical level, we have showed
that the endogenous theory of growth recommends the
loosening of certain
neo-classicalassumptions to highlight other underlying ones.
Besides, the models worked out in this
theory arecharacterized by a diversity of resources; for instance,
investment in physical and human
capitalwithin the educational system “Lucas (1988)”, practical
training (Learning by doing) “Romer
(1990)”, the driving role of infrastructure and public
expenditure “R.Barro (1991)”, research and
technological innovation “Aghion and Howitt (1998)”, etc.
Moreover, this theory provides a well defined framework of
analysis for the research anddevelopment

as a fundamental factor in the economic growth. All in all, the
empirical steps that wehad adopted in
this work, made it possible to meet our need to evaluate to
what extent the MENAcountries have
profited from the R&D incorporated over the period 1980 -2009.
The results areconvincing, indicating
that there is a positive relationship between research and
development and growth. In fact, this
empirical study of the MENA countries has brought important
results: The existence of a positive
Vol. 7, No.3, 2015
ISSN 2076-9202
69
relationship between research and development and economic
growth inthese countries. Indeed, the
volume of expenditure of R&D acts on the speed of
convergencebetween the countries. So, the
research and development constitutes a crucial factor
forrecovery. Therefore, stocks of R&D are

necessary to adapt the advantages of the technological
diffusion.
Moreover, on the level of the developed capital, a policy of
research and development and adynamic
specialization constitute the principal determinants of recovery.
Besides, the MENA countries must
profit from their closeness to Europe to increase their exports
and attract the FDE (Foreign Direct
Investment) inorder to increase their creative capacities and
improve their speed of convergence
compared to thedeveloped countries.
REFERENCES
Aghion, P. Howitt, P. (1998).Endogenous economic growth,
MIT Press, Cambridge, Mass
Barro, R. (1991). Economic growth in a cross section
countries’, Quarterly Journal of Ecomics, Vol. 106,
pp. 407-443.
Chantal, K. Cincera, M. (2001). Determinants of innovation
activities of firms in has Newly
Industrialized Country: Year econometric analysis with firm-
level dated for the Turkish manufacturing
sector', Economy and Forecast, vol. 150-151, pp. 139-158.
Christophe, H. (2000).The econometrics of the data of panel;
Linear models simples', Doctoral School,

Methodological Seminar.
Dosi, G. (1988). The nature of the innovative process, Technical
change and economic theory, London:
Printer Publishers.
Eaton, J and Kortun, S. (1996).Engines of Growth: Domestic
and Foreign sources of innovation, NBER
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Griliches, Z. (1979). Issues in Assessing the Contribution of
Research and Development to Productivity
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Grossman, GM. and Helpman, E. (1991). Trade, Knowledge
Spillovers, and Growth, European Economic
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Haussman, JA. (1998).Specification Tests in Econometrics,
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Frascati. (1993).Méthode type proposée pour les enquêtes sur la
recherche et développement
expérimental, OCDE, Paris.
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Lucas, RE. (1988).On the mechanics of economic development,
Journal of MonetaryEconomics, Vol. 22,
pp.3-42.
Levin, A. Lin, C. ET Chu, CJ. (2002) .Unit roots tests in panel
data: Asymptotic and nite – sample
properties ’, Journal of Econometrics, Vol 108, pp. 1-24.
OCDE, (2004b). The internationalisation of industrial R & D:
policy issues and measurement problems’,
document de travail, T. Hatzichronoglou.
Pedroni, P. (1999). Critical values for cointègration Tests in
Heterogeneous panels with Multiple
Regressors, Oxford Bulletin of Economics and Statistics,
Vol.61, pp.653 -670.
Pedroni, P. (2004).Panel cointègration: Asymptotic and Finite
Sample properties of Pooled Time Series
Tests with an Application to the PPP Hypothesis, Econometric
Theory, Vol .3, pp.579-625.
Philips, PCB and Moon, H. (1999).Linear Regression Limit
Theory for Non Stationary Panel Data,
Econometrica, Vol. 67, pp.1057-1111.
Romer, PM. (1986). Increasing returns and long-run growth,
Journal of Political Economy, Vol.94, pp.
1002 – 37.
Romer, P. (1990). Endogenous technological change, Journal of
Political Economy, Vol. 98, pp. 71-120.
Sadraoui, T. Zina, NB. (2007).A dynamic Panel data analysis
for R&D Cooperation and economic
growth, Int .J.Foresight. And innovation policy, MPRA PAPER

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Reproduced with permission of the copyright owner. Further
reproduction prohibited without
permission.
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가ㄅㄅㄅㄅㄅ가 ㄅㄅㄅㄅㄅ쯽հㄅㄅ가가 ㄅㄅㄅㄅㄅ가가 ㄅ 가ㄅㄅㄅ
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♳ 蔑鿌ꑳ 禦 ꀕ ㊱菱雺蔆栶늜柞汚꾢⦶쫇ㄅ銄뗛脍䗘�孮藥點椕ㆲ弥ႈ
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䣝ﾣ 뗺 �ϋ가ㄅㄅ가 ㄅㄅㄅ가ㄅㄅ가ㄅㄅㄅㄅㄅㄅ
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가ㄅℙㄅㄅ가 ㄅㄅㄅㄅ ꞛ 가ㄅㄅㄅㄅ가 ㄅㄅ가ㄅㄅㄅ‫﮽‬
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滸ᅏ 䚉䲲仙絬 ഓ
䶲鋈䶦太魒뚡夥䛏⬉똻ㄅ㊯� 箉迶籯萸탨ⁿ嶊 ഭ
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가ㄅ㲣社㊑렿뒣瞇䄑릡竍囜畲ꁆ ㄅㄅￏ蟺檦 ᘟ꼩 粐ㄅ仺秸ￎ蜵ᕭ䣠职ㄅ
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ㄅㄅðㄅKㄅㄅㄅ가͢가ㄅㄅㄅㄅ가ㄅㄅㄅㄅㄅ가ㄅㄅㄅㄅㄅㄅ가ㄅㄅ가ㄅㄅㄅㄅ
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ㄅㄅㄅㄅㄅㄅㄅㄅㄅㄅㄅƮㄅㄅㄅ가ˇㄅㄅ가가ㄅ가가가ㄅㄅㄅㄅㄅ₱ㄅㄅㄅ䳦謈
䉑蔾鿌ꖳ疦㯿䀪ꕭ 工爍큍唸� 좵彄ㄅ䬚㶓䨐坮‫זݢ‬櫥浗涹ន箺刪捧㸪䈷䲼箶
溚ඐ
霉䚊๘ 쪆⑮翙볹 箳ㄅ³ ㄅㄅㄅㄅ‫م‬ㄅㄅㄅㄅㄅㄅㄅㄅㄅㄅㄅㄅ
ㄅㄅㄅㄅㄅ가가가가ㄅㄅㄅㄅㄅㄅㄅㄅㄅ가가ㄅ 가ㄅㄅ가ㄅㄅ가ㄅㄅㄅㄅ‫⅏ݐ‬
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가가ㄅㄅ가 ㄅㄅㄅㄅㄅㄅㄅ࣢ㄅㄅㄅㄅㄅㄅㄅ가ㄅㄅ가 ㄅ가ㄅㄅㄅ̂ㄅㄅ가
ḋ가ㄅ가ㄅㄅㄅㄅㄅ가ㄅㄅㄅ가ㄅㄅㄅㄅㄅㄅἥ͠ㄅ가ㄅㄅㄅㄅㄅㄅㄅㄅѐㄅㄅ
ㄅ가ㄅㄅㄅ가‫ێ‬ㄅㄅㄅㄅㄅ가ㄅㄅㄅㄅㄅㄅㄅㄅㄅ가ㄅㄅ가‫ﺓ‬가가ㄅㄅㄅㄅㄅㄅ
ㄅㄅㄅ가ㄅㄅㄅㄅ가ㄅㄅㄅ가가ㄅㄅㄅㄅ가ㄅㄅㄅㄅㄅҚ가ㄅㄅ가ㄅㄅㄅ
ㄅㄅㄅ 가 ㄅㄅㄅ가가ⱻ가Նࣕ가ㄅㄅㄅⱸ가ㄅㄅ가 ㄅㄅ가가ㄅㄅㄅ가ㄅ
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가가 ㄅㄅㄅ가₋ㄅㄅㄅㄅㄅ가ㄅㄅㄅㄅ̔ㄅㄅㄅㄅㄅ가ㄅ가Ǡㄅㄅ
ㄅ가ㄅㄅㄅㄅㄅㄅㄅ 가ㄅ가가ㄅㄅㄅㄅ가ㄅㄅㄅㄅ가 ㄅㄅ가가ㄅㄅ
䖖脆莄䶝搶鬵ㄅ꺵�壝䃮䍱ꅸ ㄅ䂮ꎮ 灲駉ꐝ 緳ꌎ 桒쎡棺讧흅颓㱙忮峴�ᛌ 가ㄅ
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ㄅㄅㄅʥㄅ 가Ṻㄅㄅㄅㄅㄅㄅㄅㄅ ƃㄅㄅㄅㄅ가ㄅㄅ가 ㄅㄅㄅ가ㄅㄅㄅ가
ㄅㄅㄅㄅㄅㄅㄅㄅㄅㄅㄅㄅ가ㄅ가ㄅㄅㄅㄅㄅㄅㄅㄅㄅㄅㄅㄅ가ㄅ가ㄅ
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Đ ㄅㄅㄅㄅ가 ㄅㄅㄅㄅㄅꝑӫㄅㄅㄅㄅㄅㄅㄅ ⹀ㄅ가가ㄅㄅㄅ가ㄅㄅ
ㄅ 가ㄅㄅ가●ㄅㄅ가ㄅㄅㄅㄅㄅ가 ㄅㄅㄅƳˆㄅㄅㄅ가가ㄅㄅㄅ가ㄅㄅ
ㄅ가ㄅㄅㄅㄅㄅㄅ▒ㄅㄅㄅ가ㄅ 가가ㄅㄅㄅㄅㄅㄅㄅ가가ㄅㄅㄅṥㄅ가ㄅ
가가ㄅㄅ가가ㄅㄅㄅㄅㄅㄅㄅㄅ가ㄅ가ㄅㄅㄅㄅㄅㄅㄅ가ㄅ가ㄅ가ㄅㄅㄅㄅ
ㄅㄅㄅ 가ㄅㄅㄅ가ㄅㄅㄅꝣ가가가ㄅ가ㄅⱰ가ㄅ Ὸㄅㄅㄅ Ϛㄅㄅㄅㄅȁㄅ
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ㄅㄅΈㄅㄅㄅㄅㄅㄅ가ㄅ 가 가ㄅㄅㄅㄅ 가‫ﭼ‬ㄅㄅㄅΰㄅㄅㄅㄅ‫ؘ‬가ㄅㄅ⅊ㄅ가
%ㄅㄅㄅㄅㄅㄅㄅㄅ가가 가ㄅ가ㄅㄅㄅ‫ﮉ‬ㄅㄅㄅⱻㄅㄅ가ㄅ가가ҏ가ㄅㄅ가ㄅ
가가ㄅㄅㄅㄅㄅㄅㄅㄅㄅㄅㄅ가가ㄅ가ㄅㄅ가ㄅㄅㄅㄅ가ㄅㄅㄅ가ㄅ 가가Ằ
ㄅㄅㄅㄅㄅㄅㄅㄅㄅㄅ가ㄅㄅㄅㄅㄅ가Ꝫㄅㄅㄅㄅㄅㄅㄅㄅㄅ ‫ר‬가 가ㄅ가ㄅ
ㄅㄅㄅㄅㄅㄅㄅㄅㄅꝆㄅㄅㄅㄅㄅ가ㄅㄅㄅㄅㄅㄅ가ㄅㄅῦㄅㄅ 가ㄅㄅㄅㄅ
ㄅㄅ가 ㄅㄅ 가ㄅㄅ؅ㄅㄅ가ㄅㄅㄅϞ ㄅㄅㄅㄅㄅㄅㄅ가ㄅㄅㄅ가ㄅ가ㄅㄅㄅ

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