Productivity and Economic Growth in the European Union: Impact of Investment in Research and Development-Reference-Cited by-同舟云学术

Productivity and Economic Growth in the European Union: Impact of Investment in Research and Development

Published:2018-03-01 Issue:1 Volume:64 Page:18-27
ISSN:2385-8052
Container-title:Naše gospodarstvo/Our economy
language:en
Short-container-title:

Author:

Nekrep Andreja¹,Strašek Sebastjan²,Boršič Darja²

Affiliation:

1. PhD student at the Faculty of Economics and Business, University of Maribor, Maribor , Slovenia

2. University of Maribor, Faculty of Economics and Business, Maribor , Slovenia

Abstract

Abstract This paper focuses on investment in research and development as a factor of labour productivity and economic growth. Our analysis confirms the link between expenditure for research and development (expressed in % of GDP) and labour productivity (expressed in the number of hours worked) based on selected data for EU Member States in the period 1995-2013. A causal link between variables of the concave parabola was confirmed, and the value of expenditure for research and development (2.85% of EU GDP) maximising productivity (per hour of work) was determined based on the examined data. In accordance with these findings, EU’s target of reaching 3% of GDP spent on research and development to be achieved by 2020 seems in support of reaching maximum productivity in the EU.

Publisher

Walter de Gruyter GmbH

Subject

Industrial and Manufacturing Engineering,General Agricultural and Biological Sciences,General Business, Management and Accounting,Materials Science (miscellaneous),Business and International Management

Link

https://www.sciendo.com/pdf/10.2478/ngoe-2018-0003

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