This study analysed economic growth and industrial structure under different conditions on research and development (R&D) investment. To simulate counterfactual scenarios, we built a recursive dynamic computable general equilibrium model named as Technology and Economy Modelling for Innovation Policy assessment (TEMIP) that focuses on private and public R&D investments and their net effects from a macroeconomic perspective. The simulation shows gross domestic product increases rapidly in South Korea when a given amount of expenditure is spent on public R&D activities rather than private R&D. Moreover, our simulation results imply that resource allocation for R&D investments should be elaborated through considering whether the ultimate policy goal is oriented towards economic growth or stability.

中文翻译：

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考虑经济增长与稳定之间权衡的R&D投资政策CGE分析

本研究分析了不同条件下研发（R&D）投资的经济增长和产业结构。为了模拟反事实情景，我们构建了一个递归动态可计算一般均衡模型，称为创新政策评估的技术和经济模型 (TEMIP)，从宏观经济的角度关注私人和公共研发投资及其净效应。模拟显示，当一定数额的支出用于公共研发活动而不是私人研发时，韩国的国内生产总值会迅速增加。此外，我们的模拟结果表明，R&D 投资的资源配置应该通过考虑最终的政策目标是面向经济增长还是面向稳定来制定。