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R&D expenditure and economic growth: EU28 evidence for the period 2002–2012

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  • Svetlana Sokolov-Mladenović
  • Slobodan Cvetanović
  • Igor Mladenović

Abstract

In this paper, we investigate the influence of R&D expenditure on economic growth in the EU28 during the period of 2002–2012. For this purpose, we constructed a multiple regression model, which showed that, ceteris paribus, an increase in R&D expenditure as a percentage of GDP by 1% would cause an increase of real GDP growth rate by 2.2%. This model takes into consideration actual financial crises and emphasises the negative influence of fertility rate in the EU28 on economic growth. We believe that the achieved research results can be beneficial to the economic policy makers in the innovation and demographic areas.

Suggested Citation

  • Svetlana Sokolov-Mladenović & Slobodan Cvetanović & Igor Mladenović, 2016. "R&D expenditure and economic growth: EU28 evidence for the period 2002–2012," Economic Research-Ekonomska Istraživanja, Taylor & Francis Journals, vol. 29(1), pages 1005-1020, January.
    • Handle: RePEc:taf:reroxx:v:29:y:2016:i:1:p:1005-1020
    DOI: 10.1080/1331677X.2016.1211948
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    Cited by:

    1. Jaros³aw Brodny & Magdalena Tutak, 2023. "The level of implementing sustainable development goal "Industry, innovation and infrastructure" of Agenda 2030 in the European Union countries: Application of MCDM methods," Oeconomia Copernicana, Institute of Economic Research, vol. 14(1), pages 47-102, March.
    2. Francisco J. Delgado, 2023. "Public Expenditure and Economic Growth: Empirical Evidence for the EU," Politická ekonomie, Prague University of Economics and Business, vol. 2023(6), pages 709-729.
    3. Mukhtarov, Shahriyar & Mikayilov, Jeyhun I., 2023. "Could financial development eliminate energy poverty through renewable energy in Poland?," Energy Policy, Elsevier, vol. 182(C).

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