impact of investment in research and development
Andreja Nekrep (Author), Sebastjan Strašek (Author), Darja Boršič (Author)

Abstract

This paper focuses on investment in research and development as a factor of labour productivity and economic growth. Our analysis confirms the link between expenditure for research and development (expressed in % of GDP) and labour productivity (expressed in the number of hours worked) based on selected data for EU Member States in the period 1995-2013. A causal link between variables of the concave parabola was confirmed, and the value of expenditure for research and development (2.85% of EU GDP) maximising productivity (per hour of work) was determined based on the examined data. In accordance with these findings, EU’s target of reaching 3% of GDP spent on research and development to be achieved by 2020 seems in support of reaching maximum productivity in the EU.

Keywords

investment in research and development;productivity;economic growth;correlation;panel analysis;

Data

Language: English
Year of publishing:
Typology: 1.01 - Original Scientific Article
Organization: UM EPF - Faculty of Economics and Business
UDC: 330.35:005.412
COBISS: 12997660 Link will open in a new window
ISSN: 0547-3101
Parent publication: Naše gospodarstvo
Views: 1040
Downloads: 133
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Other data

Secondary language: Slovenian
Secondary title: Produktivnost in gospodarska rast v Evropski uniji
Secondary abstract: V tem članku smo se osredotočili na vlaganja v raziskave in razvoj kot dejavnik produktivnosti in gospodarske rasti. Za države članice EU smo v obdobju 1995-2013 potrdili povezanost izdatkov za raziskave in razvoj, izraženih v % BDP, s produktivnostjo dela, izraženo na uro opravljenega dela. Ugotovili smo povezanost med spremenljivkama oblike konkavne parabole ter na obravnavanih podatkih opredelili vrednost vlaganj v raziskave in razvoj (2,85 % BDP EU), ki maksimira produktivnost dela. Ob tem lahko navedemo, da je cilj o vlaganjih v raziskave in razvoj v obsegu 3 % BDP, ki si ga je zastavila EU do leta 2020, v podporo doseganju maksimalne ravni produktivnosti v EU.
Secondary keywords: gospodarstvo;gospodarska rast;produktivnost;
URN: URN:SI:UM:
Type (COBISS): Scientific work
Pages: str. 18-27
Volume: ǂLetn. ǂ64
Issue: ǂšt. ǂ1
Chronology: 2018
DOI: 10.2478/ngoe-2018-0003
ID: 10929721