The impact of Science, Technology and Innovation on economic growth among OECD and non-OECD economies

This paper examines how Science, Technology and Innovation (STI) proxied by Research and Development (R&D) affects the economic growth rate in all nations around the world. By employing Fixed-effect model, Hausman test and Imputation data analysis, the results show that investigated determinants, namely capital, government expenditure, labour, export and most importantly R&D have significantly effect on the growth of the economy.