Is R&D intensity stationary?

NEW PUBLICATION: It was a really nice experience to explore the links between innovation and macroeconomics. We find that R&D intensity is stationary in the G7 countries when we consider structural breaks with smooth functions, with the notable exception of the U.S. Thus, we do not reject the Schumpeterian growth theory. Our policy recommendation would be to invest in knowledge to sustain productivity growth.

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You can quote this article as:
Yifei Cai & Jamel Saadaoui (2022) Fourier DF unit root test for R&D intensity of G7 countries, Applied Economics, 10.1080/00036846.2022.2038776.

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