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Sustainable Economic Growth Based on R&D Amplification and Technological Content of Exports. Evidences from Romania and The V4 Economies

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  • Aurel Burciu

    (Faculty of Economics and Public Administration, “Ştefan cel Mare” University, 720229 Suceava, Romania)

  • Rozalia Kicsi

    (Faculty of Economics and Public Administration, “Ştefan cel Mare” University, 720229 Suceava, Romania)

  • Ionel Bostan

    (Faculty of Economics and Public Administration, “Ştefan cel Mare” University, 720229 Suceava, Romania)

  • Iulian Condratov

    (Faculty of Economics and Public Administration, “Ştefan cel Mare” University, 720229 Suceava, Romania)

  • Cristian Valentin Hapenciuc

    (Faculty of Economics and Public Administration, “Ştefan cel Mare” University, 720229 Suceava, Romania)

Abstract

A vast body of literature recognizes the importance of exports as a driver of economic growth. The increasing share of more sophisticated exports gave birth to the idea that the composition of exports, and not just exports per se, could be crucial for economic dynamics. The aim of this paper was to estimate the relative importance of exports with different technological content on economic growth in Romania and V4 economies, considering R&D (Research and Development) expenditure as a predictor of the pattern of these exports. We used a panel analysis on a data set covering the period of 1995–2017 for Romania and V4 economies. The overall results outline significant differences among selected countries in terms of how the composition of exports influenced economic growth in selected countries. In addition, significant differences were found among selected countries in how R&D expenditure influenced the composition of exports. This paper has clearly shown that the composition of exports has different effects on economic growth in selected countries, mostly explainable by country-specific factors. At the same time, the R&D activity, as the main input in the innovation process, can determine the pattern of the structure of exports. The conclusions of such research could become useful tools in shaping macroeconomic policies focused on sustained growth and long-term economic development, especially in countries concerned about improving their status in the global value chain.

Suggested Citation

  • Aurel Burciu & Rozalia Kicsi & Ionel Bostan & Iulian Condratov & Cristian Valentin Hapenciuc, 2020. "Sustainable Economic Growth Based on R&D Amplification and Technological Content of Exports. Evidences from Romania and The V4 Economies," Sustainability, MDPI, vol. 12(5), pages 1-17, February.
    • Handle: RePEc:gam:jsusta:v:12:y:2020:i:5:p:1831-:d:326477
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    Cited by:

    1. Ion PANESCU & Dumitru MIRON, 2023. "The International Trade of Non-Euro CEE Countries During the Period 2014-2021. A Multiparameter Analysis," Business & Management Compass, University of Economics Varna, issue 2, pages 125-138.

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