Naslov
Research and development - a potential growth driver of the European economy

Autori
Herceg , Tomislav, Dabić, Marina ; Vlajčić, Davor

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
The 7th International Conference for Entrepreneurship, Innovation and Regional Development, ICEIRD 2014 / Papadopoulos, G.A. ; Kekitikidis, P.H. Kofteros, S.A. - Nikozija : IEIRD, 2014, 200-209

ISBN
978-9963-7355-4-9

Skup
The 7th International Conference for Entrepreneurship, Innovation and Regional Development, ICEIRD 2014

Mjesto i datum
Nikozija, Cipar, 05.06.2014. - 06.06.2014

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
European countries; FDI; GDP per capital; R&D; R&D investors
(European countries; FDI; GDP per capital; R&D; R&D investor)

Sažetak
The main characteristics of the European economy in the recent years are declining or stagnating national incomes of the most of the European Union countries. Hence this paper investigates an impact of the well-known growth boosters on the European income: research and development, and foreign direct investment. A cross section model is tested, which has shown a significant relation between GDP per capita growth and the ratio of Research and Development and Foreign direct investment (FDI) in the GDP. The model is tested in the pre-crisis year of 2007, and the mid-crisis year of 2011. Furthermore, additional survey was made to show which of the Reasearch and development financiers was the most efficient: entrepreneurial sector, government sector or high education sector. The findings show that foreign direct investment and research and development should have a crucial role in the recovery of the European weak economy ; results show that a single percent increase in the share of the foreign direct investment and a research and development in gross domestic product would have caused a 3 and 2 digit increase of the GDP per capita in 2007 respectively. Secondly, it is shown that the significance and the impact of R&D and FDI in 2011 has changed, crowding out all the other factors making them insignificant compared to the R&D and FDI. Finally, the survey has shown that the entrepreneurial segment of the research and development has the most of the desired beneficial effects, while higher education and government sector R&D appear to be almost irrelevant for the GDP per capita growth. These fidnings suggest that policy makers should invest huge efforts to encourge foregin direct investemnt flows and corporte R&D invetments since it is the fastest and the most effective way to recovery of the Old continent.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA