6533b85dfe1ef96bd12bf1e7
RESEARCH PRODUCT
Research and Development Expenditures and Economic Growth in the EU: A Panel Data Analysis
Signe BāliņaRita Freimanesubject
HF5001-6182020209 energyresearch and development expenditures02 engineering and technologyProduction functionEu countries0502 economics and business0202 electrical engineering electronic engineering information engineeringEconometricsEconomicsmedia_common.cataloged_instanceBusiness050207 economicsEuropean unionHB71-74media_commonPublic economicsMember statesStock and flow05 social sciencesGrowth modeleconomic growthEconomics as a sciencepanel data analysisEmpirical relationshipPanel datadescription
Abstract The main aim of the paper is to investigate the empirical relationship between research and development (R&D) expenditures and economic growth in the European Union member states in the period of 2000–2013. The empirical analysis is based on panel data regressions. The estimated model is the production function type standard growth model extended with R&D stock variable. The results show a statistically significant impact of R&D expenditures on the economic growth in the EU countries. The significance for R&D coefficient remains robust to different sub-periods, but the level of significance decreases as a sub-sample of new EU countries was considered.
| year | journal | country | edition | language |
|---|---|---|---|---|
| 2016-08-01 | Economics and Business |