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Models of Research and Development Financing in the European Union: A Cluster Analysis

Author

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  • Kristina Stefanova

    (University of National and World Economy, Sofia, Bulgaria)

Abstract

The paper aims to identify the different models of financing the expenditure on research and development in the European Union and define their characteristics through the application of the method of cluster analysis. The study shows the existence of four models within the EU, which are characterised by different ratios of R&D funding sources and have a specific geographical profile. Despite the differences, the private or public sector is defined as the funding source with the largest relative share in all models. The analysis shows that the model with the highest share of private sector funding provides the highest R&D expenditure as a percentage of GDP.

Suggested Citation

  • Kristina Stefanova, 2021. "Models of Research and Development Financing in the European Union: A Cluster Analysis," Nauchni trudove, University of National and World Economy, Sofia, Bulgaria, issue 5, pages 173–187-1, December.
    • Handle: RePEc:nwe:natrud:y:2021:i:5:p:173-187
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    More about this item

    Keywords

    research and development; financing R&D; innovations; European Union; cluster analysis;
    All these keywords.

    JEL classification:

    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • F00 - International Economics - - General - - - General
    • C38 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Classification Methdos; Cluster Analysis; Principal Components; Factor Analysis

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