The Impact of Research and Development (R&D) on Economic Growth Article Review
1. The article under consideration is headlined The impact of research and development (R&D) on economic growth: The case of the MENA countries. It has been written by Lamia B. Amor and Naceur Ben Zina. The purpose of the paper is to demonstrate the relation between the research and the development as well as the economic well-being. The study has involved various empirical methods including the samples from fifteen countries over the period of 1980-2009 (Amor & Zina, 2015). The methods that have been employed by the authors of the study include the GMM, the OLS as well as the causality tests. The findings of the study prove that there is definitely a positive correlation between the research and economic growth. The authors assert that the data demonstrates that the research is critical for the recovering economics and that the increase of spending on the research guarantees the positive return on investment in the future (Amor & Zina, 2015). The research and development are proved to be the significant growth factors the countries that demonstrated the extreme economic growth. The innovations that are introduced as a result of the application of the data retrieved from the research help to develop the products and services with the added value that means the greater profits for the company or the country (Amor & Zina, 2015). The stimulation of the research might also be considered as the strategy used to respond to the nowadays international and globalization challenge faced by the countries and businesses.
2. The presented article proves once more that the research and data are important for decision making and that it should be encouraged by the state and the business organizations. The data retrieved from the research improves the quality of the decision making as well as helps to minimize the risks since the decisions are frequently based on the facts and figures (Amor & Zina, 2015). Apart from that the researches obviously generate more data about the preferences and the needs of the customers that might be used to adjust the policies of the country or to improve the quality of the products and services that are offered by the company (Amor & Zina, 2015). Apart from that, it should be stressed that the article under consideration might also be used as the basis for the future research in this area as it represents the primary research of the importance of researching activities at the national and micro-level.
3. The article in question has employed the various methods to prove the positive correlation between the research and development and the economic growth. It should be stressed that the authors have managed to prove that the research data improves the economy within the states. It spurs the innovations, which in turn result in the development of the improved products and services (Amor & Zina, 2015). Apart from that the countries should be interested in carrying out the researches in …
