To facilitate R&D investment, it is necessary to prove a validity of economic effects of the R&D investment. This paper examines the direct effect of R&D of electrical and electronic industries (EEI) on economic growth as well as the indirect effect via the development of technical and...

The global financial crisis and the ensuing criticism of macroeconomics have inspired researchers to explore new modeling approaches. There are many new models that deliver improved estimates of the transmission of macroeconomic policies and aim to better integrate the financial sector in...