The Impact of R&D Expenditure on the Development of Global Competitiveness within the CEE EU Countries

Abstract

This paper examines the relations between the R&D expenditure and the global competitiveness development in the case of Slovakia as well as in member states of the European Union from Central and Eastern Europe (CEE EU (11)). To assess the competitiveness of CEE EU (11) member states, we used the Global Competitiveness Index (GCI) processed by the World Economic Forum (WEF). By using the correlation analysis, we focused on the detection of interrelations between the R&D expenditure height (per capita) (using five variables of GERD) and values of the overall GCI score as well as its three main subindexes in the case of CEE EU (11) countries over the period of 2007 -2016. In doing so, we determined that an increase in R&D expenditures can significantly contribute to an increase in the CEE EU (11) countries' competitiveness level. All performed analyses confirmed that it is important to focus on increasing R&D expenditures, especially in the higher education sector, as it has a significant influence on improving the global competitiveness development of the CEE EU (11) countries in the case of the 1st and 3rd GCI subindexes. In the end, it will be also reflected in the overall competitiveness assessment of this group of countries.

From Basic Research to Competitiveness: An Econometric Analysis of the Global Pharmaceutical Sector

“…In addition, it has also been claimed that the emphasis on social components in the general mainstream of enterprise innovation activity is one of the strongest reasons for its successful functioning and development [11,12]. There is a considerable debate on measuring the efficiency of monetary resource allocation on research and development (RD) [13][14][15]. Table 1 offers an overview of the most important articles on this topic, showing the historic development of the analysis of this problem.…”

“…Efforts to enhance the affordability of pharmaceuticals [9] contribute to the reduction of inequalities. The increasing significance of the "green chemistry" approach [10][11][12] in the pharmaceutical industry is a direct contribution to the decreasing carbon footprint [13], responsible production and consumption, and mitigation of climate change. The introduction of biodegradable materials [14] and other environmentally sustainable packages [15,16] help to preserve lifeforms that exist both below the water and on land.…”

Change of EU28 countries research and development indicators between 2010 and 2015

“…R&D policy is a standard part of an integrated system of national policies related to main social fields in most developed countries (Kiselakova et al, 2018). Research and development (R&D) and innovation are a central area of individual national and international policies and innovative strategy (Ivanová & Čepel, 2018;Hei Cheung et al, 2019;Říhová et al, 2019).…”

Competitiveness of V4 Countries Using the Global Competitiveness Index

“…These are essential factors for global competitiveness and sustainable growth. [8] Higher competitiveness is connected with higher productivity of the country´s economy, which leads to effective and more higher economic growth. Result of economic growth is to bring higher living standards and prosperity of the country´s citizen.…”