Work

R&D expenditure and economic growth: EU28 evidence for the period 2002–2012

Year: 2016

Type: article

Abstract: In this paper, we investigate the influence of R&D expenditure on economic growth in the EU28 during the period of 2002–2012. For this purpose, we constructed a multiple regression model, which showed that, ceteris paribus, an increase in R&D expenditure as a percentage of GDP by 1% would cause an increase of real GDP growth rate by 2.2%. This model takes into consideration actual financial crises and emphasises the negative influence of fertility rate in the EU28 on economic growth. We believe that the achieved research results can be beneficial to the economic policy makers in the innovation and demographic areas.

Source: Economic Research-Ekonomska Istraživanja

DOI: 10.1080/1331677x.2016.1211948

Authors: Svetlana Sokolov-Mladenović, Slobodan Cvetanović, Igor Mladenović

Institution: University of Nis

Language: English

Topic: Economic Growth and Productivity

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDG: Decent work and economic growth

Open Access status: gold

Estimated APC paid: $944