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https://doi.org/10.15179/ces.22.2.1

Patterns of Interrelationships between Inflation, R&D, Innovation, and Economic Growth: Evidence from Central and Eastern European Countries

Ljubivoje Radonjić ; Faculty of Economics, University of Kragujevac, Kragujevac, Serbia
Nevena Veselinović ; Institute of Information Technologies, University of Kragujevac, Kragujevac, Serbia

Puni tekst: engleski, pdf (1 MB) str. 5-33 preuzimanja: 212* citiraj
APA 6th Edition
Radonjić, Lj. i Veselinović, N. (2020). Patterns of Interrelationships between Inflation, R&D, Innovation, and Economic Growth: Evidence from Central and Eastern European Countries. Croatian Economic Survey, 22 (2), 5-33. https://doi.org/10.15179/ces.22.2.1
MLA 8th Edition
Radonjić, Ljubivoje i Nevena Veselinović. "Patterns of Interrelationships between Inflation, R&D, Innovation, and Economic Growth: Evidence from Central and Eastern European Countries." Croatian Economic Survey, vol. 22, br. 2, 2020, str. 5-33. https://doi.org/10.15179/ces.22.2.1. Citirano 22.06.2021.
Chicago 17th Edition
Radonjić, Ljubivoje i Nevena Veselinović. "Patterns of Interrelationships between Inflation, R&D, Innovation, and Economic Growth: Evidence from Central and Eastern European Countries." Croatian Economic Survey 22, br. 2 (2020): 5-33. https://doi.org/10.15179/ces.22.2.1
Harvard
Radonjić, Lj., i Veselinović, N. (2020). 'Patterns of Interrelationships between Inflation, R&D, Innovation, and Economic Growth: Evidence from Central and Eastern European Countries', Croatian Economic Survey, 22(2), str. 5-33. https://doi.org/10.15179/ces.22.2.1
Vancouver
Radonjić Lj, Veselinović N. Patterns of Interrelationships between Inflation, R&D, Innovation, and Economic Growth: Evidence from Central and Eastern European Countries. Croatian Economic Survey [Internet]. 2020 [pristupljeno 22.06.2021.];22(2):5-33. https://doi.org/10.15179/ces.22.2.1
IEEE
Lj. Radonjić i N. Veselinović, "Patterns of Interrelationships between Inflation, R&D, Innovation, and Economic Growth: Evidence from Central and Eastern European Countries", Croatian Economic Survey, vol.22, br. 2, str. 5-33, 2020. [Online]. https://doi.org/10.15179/ces.22.2.1

Sažetak
The primary objective of the article is to examine the nexus between inflation, R&D, patents, and economic growth within a group of Central and Eastern European countries (CEECs). The examination is conducted in two parts. First, the impact of total R&D expenditures on economic growth is observed, as well as the influence of growth on private and public R&D investments. Second, the conversion from private and public R&D investment to innovation, measured by the number of patents, is observed. Throughout the analysis, economic growth and inflation are representative of macroeconomic stability. The outcomes of the panel auto-regressive distributed lag estimation indicate that total R&D expenditures are essential and positively significant for economic growth in the observed countries. The results also show that output growth has a remarkably positive impact on generating private R&D expenditures. Such an influence is also found, but at a weaker level, in the case of public R&D expenditures. In this part of the analysis, inflation has demonstrated a harmful influence on R&D expenditures. The results of the second part indicate that public and private R&D expenditures, at a significant level, generate innovation activities, while the impact of inflation has proven to be unimportant.

Ključne riječi
innovation; economic growth; inflation; panel ARDL

Hrčak ID: 248386

URI
https://hrcak.srce.hr/248386

Posjeta: 462 *