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An Empirical Analysis of the Railroad R＆D Stock  

Park, Man-Soo (서울과학기술대학교 철도전문대학원 철도차량시스템공학과)
Moon, Dae-Seop (한국철도기술연구원)
Lee, Hi-Sung (서울과학기술대학교 철도전문대학원)
Publication Information
Journal of the Korean Society for Railway / v.13, no.5, 2010 , pp. 528-534 More about this Journal
Abstract
In the new growth theory, R&D stock is the third factor of production excluding a labor and capital. In this point, a R&D stock is located in a capital which is accumulated by money like existing capital and this is a knowledge capital. The effort for escalating this knowledge capital is R&D investment and R&D stock is an accumulation of this. A contribution degree of the economic growth and a return of R&D investments are analyzed by an estimation of relation R&D stock and a total factor of productivity. This study analyzed R&D stock of railroad R&D investments and compared R&D stock with a technical level. So, a technical level is proportionally escalated following escalation of R&D stock. and compared railroad industry weight on the GDP with a railroad R&D stock weight on whole industries R&D stock. According to a relatively small railroad R&D stock weight against the railroad industry weight, a continuous railroad R&D investment is needed.
Keywords
R&D investment; R&D stock;
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Times Cited By KSCI : 1  (Citation Analysis)
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