Lee, Joo-Suk; Yoo, Seung-Hoon; Kwak, Seung-Jun - In: Applied Economics 43 (2009) 6, pp. 717-727
This article attempts to analyse the determinants of firms' Research and Development (R&D) expenditures in Korea by considering the business environment after the economic crisis in 1997. In addition, to take into account zero R&D expenditure, this article employed a two-equation model unlike...