Does national investment on R&D compared to military expenditure achieve greater development?

Kabir, Enamul and Biswas, Raaj and Rafi, Refat Bin Reza (2017) Does national investment on R&D compared to military expenditure achieve greater development? In: Melbourne International Business and Social Science Research Conference 2017, 28-30 Oct 2017, Melbourne, Australia.

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Research investment and military expenditure are generally of opposite character. Military spending is higher than research and development (R&D) because of global insecurity and power politics. We show the merit of research and development (R&D) investment and how it contributes to the national human capital. We further assess the impact of the expenditure gap between these two on the Human Development Index (HDI) and Gross Domestic Product (GDP). Data from 76 countries for a period of 15 years (2000-2014) were analysed by mixed effect models adjusting the effect of the six different continents. There exists a positive bi-directional significant relationship between the HDI and R&D investment. R&D tend to contribute to human capital, which in turn contributes to the public development over the years, whereas the military expenditure that only marginally contributes towards GDP, not HDI.

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Item Type: Conference or Workshop Item (Commonwealth Reporting Category E) (Speech)
Refereed: Yes
Item Status: Live Archive
Additional Information: Oral presentation - Abstract only published in Proceedings. No evidence of copyright restrictions preventing deposit of Published Abstract.
Faculty / Department / School: Current - Faculty of Health, Engineering and Sciences - School of Agricultural, Computational and Environmental Sciences
Date Deposited: 16 Jan 2018 04:28
Last Modified: 01 Nov 2018 04:42
Uncontrolled Keywords: HDI, GDP, R&D
Fields of Research : 14 Economics > 1499 Other Economics > 149999 Economics not elsewhere classified
Socio-Economic Objective: E Expanding Knowledge > 97 Expanding Knowledge > 970114 Expanding Knowledge in Economics

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