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| The Impacts of Defense R&D on US Economic Growth |
| He Fang1 , Cao Bingxue2, Zhang Ming1 |
1.China Institute of Nuclear Information& Economics,Beijing 100048,China;
2.School of Agricultural Economics and Rural Development,Renmin University,Beijing 100872,China |
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Abstract It is important to make clear the impacts of defense R&D investment on economic growth for promoting civil-military integration in China.In this paper,we employ macro data of USA from 1949 to 2014 and establish a simultaneous equations model to examine the impact of U.S.defense R&D on economic growth.The results show that the defense R&D has a significant positive impact on economic growth through promoting the social technology progress directly as well as stimulating R&D investment of private sector.Hence,China,which is gradually close to the technology frontier,should continue to increase defense R&D,improve the institutional regime of defense technology transfer,and promote the innovation-driven development
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Received: 12 January 2017
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2017, Vol. 0 
