Original scientific paper
https://doi.org/10.1080/1331677X.2016.1211948
R&D expenditure and economic growth: EU28 evidence for the period 2002–2012
Svetlana Sokolov-Mladenović
Slobodan Cvetanović
Igor Mladenović
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.
Keywords
R&D expenditure; economic growth; innovation policy; EU28
Hrčak ID:
171784
URI
Publication date:
22.12.2016.
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