Original scientific paper
https://doi.org/10.1080/1331677X.2017.1383176
Innovation and economic growth in old and new member states of the European Union
Andrzej Kacprzyk
orcid.org/0000-0003-2660-3849
; Faculty of Economics and Sociology, Department of Economic Mechanisms, Institute of Economics, University of Łódź, Łódź, Poland
Wirginia Doryń
; Faculty of Economics and Sociology, Department of Economic Mechanisms, Institute of Economics, University of Łódź, Łódź, Poland
Abstract
This study examines the innovation–growth nexus in the European
Union (EU) countries over the period 1993–2011. The system
generalised method of moments estimator was used to test whether
patent activities and different research and development (R&D) outlays
affect economic growth in the old (EU-15) and new (EU-13) member
states differently. The authors have found no significant impact of R&D
on the growth and positive relationship between patent activities
and growth in the EU-13. The results suggest that there may be no
single recipe for growth for the EU and raise the question of whether
setting common numerical targets in the EU innovation policy makes
economic sense.
Keywords
Economic growth; innovation; research and development; patents; panel data; European Union
Hrčak ID:
193208
URI
Publication date:
1.12.2017.
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