The Scientific Research Publications and Sustainable Sectoral Value Addition in Bangladesh

Abstract

This paper explores the role of scientific publications along with sectoral value addition on economic growth in Bangladesh over the period 2000-2020. The Johansen co-integration test is applied to investigate the long-run relationship among the variables. Granger causality test examines short-run relationship among the variables. The FMOLS model is also applied to confirm robustness check in this study. The empirical findings show that a strong long-run co-integration relationship exists among economic growth, scientific publications, and other explanatory variables in this study. The Granger causality test reveals bidirectional causality running from agriculture value added to services value added. Whereas, unidirectional causality exists among the variables of scientific publications to GDP per capita, scientific publications to manufacturing value added, services value added to scientific publications, GDP per capita to industry value added, services value added to GDP per capita, manufacturing value added to industry value added, services value added to manufacturing value added in the short run. The impulse response function implies that shock applies on scientific publications affects economic growth negatively. So, the policy makers of Bangladesh should emphasise on scientific publications by increasing investment on RnD to reach the status of middle-income country through sustainable sectoral development.