ESTIMATING OPTIMUM VALUE OF INVESTMENT AND HUMAN CAPITAL IN THE R& D SECTOR OF IRAN USING AN AUGMENTED ENDOGENOUS GROWTH MODEL

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HADIAN EBRAHIM; OSTADZAD ALI HUSSEIN

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Journal Paper

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Journal: IRANIAN JOURNAL OF ECONOMIC STUDIES Year:2013 | Volume:2 | Issue:1 Page(s): 1-22

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Title

ESTIMATING OPTIMUM VALUE OF INVESTMENT AND HUMAN CAPITAL IN THE R& D SECTOR OF IRAN USING AN AUGMENTED ENDOGENOUS GROWTH MODEL

Author(s)

HADIAN EBRAHIM | OSTADZAD ALI HUSSEIN | Issue Writer Certificate

Keywords

AUGMENTED ENDOGENOUS GROWTH MODEL

R&D

HUMAN CAPITAL

ECONOMY OF IRAN

Abstract

This article intends to estimate the optimal value of investment and HUMAN CAPITAL in R&D sector of Iranian economy using an AUGMENTED ENDOGENOUS GROWTH MODEL. To do so, two issues have been studied. First, an endogenous growth model has been extended to include investment in R&D as an independent variable. In the framework of this model, in order to determine the optimal value of investment and HUMAN CAPITAL in R&D sector, we derived the optimal path. Second, using the optimal path and Iran’s economic data, the optimal values of HUMAN CAPITAL and investment in Iran’s RD sector have been estimated. The results show that in order to be in a steady state with 8% economic growth, it’s necessary to allocate 0.7% of total HUMAN CAPITAL and 8% of national income to R&D sector. However, at present, less than 0.3% of HUMAN CAPITAL and less than 0.5% of national income is allocated to R&D sector in the Iranian economy.

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APA: Copy

HADIAN, EBRAHIM, & OSTADZAD, ALI HUSSEIN. (2013). ESTIMATING OPTIMUM VALUE OF INVESTMENT AND HUMAN CAPITAL IN THE R& D SECTOR OF IRAN USING AN AUGMENTED ENDOGENOUS GROWTH MODEL. IRANIAN JOURNAL OF ECONOMIC STUDIES, 2(1), 1-22. SID. https://sid.ir/paper/331269/en

Vancouver: Copy

HADIAN EBRAHIM, OSTADZAD ALI HUSSEIN. ESTIMATING OPTIMUM VALUE OF INVESTMENT AND HUMAN CAPITAL IN THE R& D SECTOR OF IRAN USING AN AUGMENTED ENDOGENOUS GROWTH MODEL. IRANIAN JOURNAL OF ECONOMIC STUDIES[Internet]. 2013;2(1):1-22. Available from: https://sid.ir/paper/331269/en

IEEE: Copy

EBRAHIM HADIAN, and ALI HUSSEIN OSTADZAD, “ESTIMATING OPTIMUM VALUE OF INVESTMENT AND HUMAN CAPITAL IN THE R& D SECTOR OF IRAN USING AN AUGMENTED ENDOGENOUS GROWTH MODEL,” IRANIAN JOURNAL OF ECONOMIC STUDIES, vol. 2, no. 1, pp. 1–22, 2013, [Online]. Available: https://sid.ir/paper/331269/en

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