Factors Affecting the Relationship between Research and Development (R&amp;D) and Economic Development in EU

Athina, Lyroni; Αναστασίου, Αθανάσιος; Panagiotis, Liargovas; Dermatis, Zacharias; Komninos, Dimitrios

doi:10.13189/aeb.2018.060506

Cited by 5 publications

(4 citation statements)

References 9 publications

(10 reference statements)

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“…Grossman and Helpman stressed that improvements in technology are the best option to overcome the limits of economic growth [49]. Athina et al analyzed 14 years (2000Athina et al analyzed 14 years ( -2014 of data from the European Union on R&D and economic growth, and they concluded that private R&D spending, public R&D expenditure, total R&D spending, and the number of researchers and patents positively affected the per capita GDP of the countries [17]. While in developing countries an increase of 1% in R&D expenditure introduces a 0.3-0.4% increase in economic growth, a rise of 1% in R&D spending in developed countries leads to a 1% increase in economic growth [17].…”

Section: Discussionmentioning

confidence: 99%

“…Innovation is one of the key success factors in a knowledge economy, and it is R&D that determines innovation [16]. R&D plays a significant role in the outcome and impact of business innovation, and R&D investment within a given country is one of the most powerful markers for ascertaining the level of innovation within that country [17]. Romer highlighted that investing in R&D increases the likelihood of developing high-level technologies, resulting in higher national income and greater economic growth [18].…”

Section: Introductionmentioning

confidence: 99%

“…A strong correlation exists between R&D expenditure and the global competitiveness index (GCI) [34]. Increased R&D expenditures have a positive and significant impact on economic growth [17], affecting technological developments, employment capacity, and export and import activities [33]. However, the paths, including the number of researchers, to contribute to GDP growth due to the R&D expenditure are less clear.…”

Section: Introductionmentioning

confidence: 99%

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Research and Development as a Moderating Variable for Sustainable Economic Performance: The Asian, European, and Kuwaiti Models

et al. 2020

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The research and development (R&D) expenditure in Kuwait is insufficient to lead to innovation and a knowledge economy. Investment in R&D has been shown to sustain elevated economic performance. The objective of this study is to explore the association between three competing dimensions of R&D indicators that lead to sustainable economic performance within any given country, namely, R&D expenditure, the number of researchers, and the number of patent rights, using time-series data collected over a 20-year period (1996–2016) by the World Bank Group. R&D indicators were compared between high- and middle-income countries including models from Asian (South Korea, Singapore, and Malaysia) and European (Finland and Ireland) countries as well as the State of Kuwait. Moreover, a case study describing R&D investments in Kuwait is presented. Overall, the results reveal higher R&D spending, number of researchers, and gross domestic product (GDP) per capita for the Asian and European models. Current R&D expenditure in Kuwait is estimated at 0.08% of GDP (2016), which is significantly lower than the mean of the middle-income countries (1.58%). Furthermore, the number of researchers (per million) in Kuwait (386) is less than half of the mean number of researchers in middle-income countries (775) (2015). Low R&D investments in the State of Kuwait has gradually led to a decreased GDP per capita. Regression analysis shows that GDP per capita can be predicted solely based on the number of researchers (beta = 0.780, R2 = 0.608). The number of researchers is the most crucial variable to predict GDP per capita, and the R&D expenditure is a good indicator of the number of researchers. These findings offer invaluable insight into the sustainable development goals (SDG 9). To our knowledge, this paper presents the first application of the effect of R&D on sustainable economic performance with reference to the SDG target 9.5 “Research & Development”. Thus, in order to enhance scientific research (both academic, professional, and industrial), countries need to increase the number of researchers, and these actions are necessary to introduce sustainable growth to GDP.

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Section: Discussionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Research and Development as a Moderating Variable for Sustainable Economic Performance: The Asian, European, and Kuwaiti Models

et al. 2020

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“…2 : December 2020 : pp. 5-33 used to address the relationship between R&D and growth within certain groups, such as G7 (Wälde & Woitek, 2004) or European Union (EU) countries (Athina, Athanasios, Panagiotis, Zacharias, & Dimitrios, 2018). Comparative analysis of innovation policies in 28 OECD countries shows that the pattern of R&D expenditures that influence growth differs from country to country.…”

Section: Literature Reviewmentioning

confidence: 99%

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The Role of Entrepreneurship in Changing the Employment Rate in the European Union

Komninos,

Dermatis,

Anastasiou

et al. 2024

J Knowl Econ

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The aim of this research is to examine the role of entrepreneurship in changing the employment rate in the European Union (EU). With the aim of understanding the relationship between entrepreneurship and employment dynamics, this research investigates the impact of entrepreneurial activities on job creation, job opportunities, and overall employment trends across EU member states. By analyzing a comprehensive dataset encompassing various economic indicators and entrepreneurial metrics, including business startups, self-employment rates, and entrepreneurial ecosystem factors, this study provides insights into the mechanisms through which entrepreneurship influences employment in the EU. The analysis considers both the direct and indirect effects of entrepreneurship on employment, exploring how entrepreneurial ventures contribute to job creation, stimulate economic growth, and shape labor market dynamics. The findings of this study reveal that entrepreneurship plays a crucial role in changing the employment rate in the EU. Entrepreneurial activities, such as new business startups and self-employment, contribute significantly to job creation, particularly in sectors characterized by innovation, technology, and services. Furthermore, entrepreneurship fosters a dynamic and flexible labor market, promoting job opportunities and reducing unemployment rates. The study also highlights the importance of supportive policies, access to financing, and a favorable regulatory environment in facilitating entrepreneurship and its positive impact on employment. Understanding the role of entrepreneurship in changing the employment rate has implications for policymakers, practitioners, and stakeholders involved in fostering economic growth and labor market development in the EU. The findings emphasize the need to encourage and support entrepreneurial initiatives, provide resources and support mechanisms for startups, and create an enabling environment that nurtures entrepreneurship and innovation. By leveraging the potential of entrepreneurship, the EU can stimulate employment growth, enhance competitiveness, and achieve sustainable economic prosperity.

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Factors Affecting the Relationship between Research and Development (R&D) and Economic Development in EU

Cited by 5 publications

References 9 publications

Research and Development as a Moderating Variable for Sustainable Economic Performance: The Asian, European, and Kuwaiti Models

Research and Development as a Moderating Variable for Sustainable Economic Performance: The Asian, European, and Kuwaiti Models

Untitled

The Role of Entrepreneurship in Changing the Employment Rate in the European Union

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