The role of R&D and economic policy uncertainty in Sri Lanka’s economic growth  

作　　者：Chandranath Amarasekara Bernard Njindan Iyke Paresh Kumar Narayan 

机构地区：[1]Central Bank of Sri Lanka,Colombo,Sri Lanka [2]Monash Business School,Monash University,Melbourne,Australia,Wellington Road [3]Monash Business School,Monash University,Wellington Road,Melbourne,Australia

出　　处：《Financial Innovation》2022年第1期214-232,共19页金融创新（英文）

摘　　要：In this paper,we assess the role of investment in research and development(R&D)and economic policy uncertainty(EPU)in Sri Lanka’s economic growth experience.We do this by first determining which endogenous growth theories best explain the evolution of total factor productivity(TFP)in the country.Using historical time series data(1980–2018),we find that semi-endogenous growth theories best explain the evolution of TFP in Sri Lanka.This evidence suggests that R&D is critical to the country’s TFP expansion.We find that,through R&D,EPU has a crucial detrimental impact on TFP growth,although it is short-lived.Our findings are robust and have important implications for R&D investment and for moderating EPU.

关 键 词：Total factor productivity Research and development Endogenous growth theories Economic policy uncertainty Sri Lanka 

分 类 号：F124[经济管理—世界经济]