Document Type

Article

Publication Date

8-11-2025

Journal / Book Title

The Journal of Technology Transfer

Abstract

We live in an era where research and development (R&D) innovation shapes the future of humanity. However, mixed results regarding the return on investment in R&D, as measured by national-level indicators, often leave policymakers uncertain about the long-term benefits of such investments. Ideally, R&D investments should yield returns by influencing key economic indicators. This study explores the multilevel effects of R&D investment on national economic performance, focusing on its secondary impacts on stock market valuation, industry value added, and patent activity, with attention to country characteristics such as technological advancement. In general, R&D investment is positively associated with GDP. For technologically advanced countries, value added from R&D innovation, especially when reflected in increased industry value, is the primary driver of GDP growth. In contrast, for developing countries, R&D investment has significant yet conditional economic effects, with human development playing a key role in driving growth.

DOI

10.1007/s10961-025-10265-z

Rights

This article is licensed under a Creative Commons Attribution 4.0 International License, which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license, and indicate if changes were made. To view a copy of this license, visit http://creativecommons.org/licenses/by/4.0/.

Published Citation

Kim, R. Investigating techonomy: the multilevel effect of R&D investment on economic performance. J Technol Transf (2025). https://doi.org/10.1007/s10961-025-10265-z

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