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European Innovations Dynamics and US Economic Impact: Theory and Empirical Analysis

Author

Listed:
  • Paul J.J. Welfens

    (Europäisches Institut für Internationale Wirtschaftsbeziehungen (EIIW))

  • Tony Irawan

    (Europäisches Institut für Internationale Wirtschaftsbeziehungen (EIIW))

Abstract

The analysis explains innovations in EU25 for the period 2006-2012, namely through R&D (relative to GDP), cumulated FDI inflows - relative to the host country capital stock - , joint internet intensity, broadband intensity and potential competition. For the first time we can offer a broad analysis of innovation dynamics in Europe that should be the basis not only for better supply-side policy in EU countries and growth policy, respectively, it also suggests a strong role of international digital communication for innovation dynamics. Moreover, the approach gives new important arguments in favor of the TTIP negotiations between the US and the EU.

Suggested Citation

  • Paul J.J. Welfens & Tony Irawan, 2015. "European Innovations Dynamics and US Economic Impact: Theory and Empirical Analysis," EIIW Discussion paper disbei208, Universitätsbibliothek Wuppertal, University Library.
    • Handle: RePEc:bwu:eiiwdp:disbei208
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    References listed on IDEAS

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    1. Marian Beise, 2005. "Lead markets, innovation differentials and growth," International Economics and Economic Policy, Springer, vol. 1(4), pages 305-328, January.
    2. Barrell, Ray & Pain, Nigel, 1997. "The Growth of Foreign Direct Investment in Europe," National Institute Economic Review, National Institute of Economic and Social Research, vol. 160, pages 63-75, April.
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    5. John H Dunning, 1980. "Towards an Eclectic Theory of International Production: Some Empirical Tests," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 11(1), pages 9-31, March.
    6. Paul Welfens & Jens Perret, 2014. "Information & communication technology and true real GDP: economic analysis and findings for selected countries," International Economics and Economic Policy, Springer, vol. 11(1), pages 5-27, February.
    7. Faber, Jan & Hesen, Anneloes Barbara, 2004. "Innovation capabilities of European nations: Cross-national analyses of patents and sales of product innovations," Research Policy, Elsevier, vol. 33(2), pages 193-207, March.
    8. Paul Welfens & Tony Irawan, 2014. "Transatlantic trade and investment partnership: sectoral and macroeconomic perspectives for Germany, the EU and the US," International Economics and Economic Policy, Springer, vol. 11(3), pages 293-328, September.
    9. Barrell, Ray & Pain, Nigel, 1997. "Foreign Direct Investment, Technological Change, and Economic Growth within Europe," Economic Journal, Royal Economic Society, vol. 107(445), pages 1770-1786, November.
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    12. Paul J.J. Welfens, 2011. "Innovations in Macroeconomics," Springer Books, Springer, number 978-3-642-11909-5, December.
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    Cited by:

    1. Paul Welfens, 2014. "Issues of modern macroeconomics: new post-crisis perspectives on the world economy," International Economics and Economic Policy, Springer, vol. 11(4), pages 481-527, December.
    2. Paul Welfens, 2015. "Innovation, inequality and a golden rule for growth in an economy with Cobb-Douglas function and an R&D sector," International Economics and Economic Policy, Springer, vol. 12(4), pages 469-496, October.
    3. Paul J.J. Welfens, 2015. "Transatlantisches Freihandelsabkommen EU-USA: Befunde zu den TTIP-Vorteilen und Anmerkungen zur TTIP-Debatte," EIIW Discussion paper disbei209, Universitätsbibliothek Wuppertal, University Library.

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    More about this item

    Keywords

    Innovation; TTIP; Foreign Direct Investment; EU; Internet;
    All these keywords.

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • F40 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - General
    • F10 - International Economics - - Trade - - - General
    • F15 - International Economics - - Trade - - - Economic Integration

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