The Interactive Effect of Property Rights and Research & Development on Total Factor Productivity (مقاله علمی وزارت علوم)

چکیده

Total factor productivity (TFP) is a pivotal determinant of sustained economic growth, serving as a measure of how efficiently inputs are transformed into output. Elevating TFP is not just a technical goal but a strategic necessity for nations aiming to achieve enduring prosperity and bolster their global competitiveness. This study analyzes the influence of key factors—including domestic R&D accumulation, R&D spillovers via imports, human capital, property rights, and economic freedom—on TFP in selected developing countries between 2011 to 2022. The findings indicate that while domestic R&D accumulation alone yields a positive but statistically insignificant effect on TFP, other variables such as R&D spillovers, property rights, and economic freedom have significant and positive impacts. Importantly, the interplay between strong property rights and domestic R&D acts as a potent driver of productivity gains. These insights suggest that policymakers should not only support innovation and research efforts but also cultivate institutional environments that protect property rights and promote economic liberalization. Such a holistic approach is essential for maximizing productivity, fostering sustainable development, and enhancing a nation’s position on the world stage. By understanding and leveraging these mechanisms, developing countries can unlock greater economic potential and chart a path toward long-term growth.