Abstract:

This paper focused on the analyzing the relationship between the total number of publications, the number of citations per document and the GDP. The current study uses the hierarchical cluster analysis to divide the clusters into different groups based on the scenario of the development of R&D expenditures measured as a percentage of GDP during 1996-2011; and panel data tools to estimate the character and intensity of the examined relationship. The panel data set of 64 countries from 1996 to 2014 was examined. Due to cross section dependence across units the Pesaran’s common correlated Effects Mean Group estimator (CCEMG) was used in order to analyze the sign and elasticity of the examined relationships. On the all country level the null hypothesis of the GDP statistical insignificance can be rejected on the 5% level of significance for both cases: analyzing the relationship between the total number of publications and the GDP, and the number of citations per document and the GDP. The Pesaran’s Common Correlated Effects Mean Group estimator was also applied to each cluster separately.