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Research and Development Expenditures and Quality of Life in European Union Countries

Author

Listed:
  • Adam P. Balcerzak

    (Nicolaus Copernicus University, Poland)

  • Michal Bernard Pietrzak

    (Nicolaus Copernicus University, Poland)

Abstract

The improvement of quality of life of people is currently considered as the main responsibility of every government. Due to the emergence of knowledge-based economy, it is commonly believed that investments in research and development (R&D) at a given level are the necessary condition to create growth based on innovations, thus support welfare in case of developed countries. In this context the article is devoted to the analysis of influence of R&D expenditures on quality of life in case of European Union countries. As the main measure of quality of life Human Development Index was utilized. Thus, the article can be considered as an input to the discussion on the potential of HDI index for measuring the quality of live in case of narrow group of relatively developed countries. In the empirical part of the paper, panel data mythology fulfilling the postulates of dynamic estimation was used. The research was done for EU countries for the period 2004-2010. The empirical part takes into consideration the structural diversity between “old” and “new” members of the EU. First of all, the results can be treated as a voice confirming the usefulness of HDI as a measure of quality of life also from the perspective of narrow group of highly developed countries. Then, the research confirms the positive influence of R&D on European welfare only in the case of highly developed “old member”.

Suggested Citation

  • Adam P. Balcerzak & Michal Bernard Pietrzak, 2015. "Research and Development Expenditures and Quality of Life in European Union Countries," Working Papers 161/2015, Institute of Economic Research, revised Sep 2015.
    • Handle: RePEc:pes:wpaper:2015:no161
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    References listed on IDEAS

    as
    1. Richard Blundell & Stephen Bond & Frank Windmeijer, 2000. "Estimation in dynamic panel data models: improving on the performance of the standard GMM estimator," IFS Working Papers W00/12, Institute for Fiscal Studies.
    2. Adam P. Balcerzak & Michal Bernard Pietrzak, 2017. "Human Development and Quality of Institutions in Highly Developed Countries," Chapters, in: Mehmet Huseyin Bilgin & Hakan Danis, & Ender Demir & Ugur Can (ed.),Financial Environment and Business Development. Proceedings of the 16th Eurasia Business and Economics Society, edition 1, volume 1, chapter 18, pages 231-241, Institute of Economic Research.
    3. Adam P. Balcerzak, 2013. "Institutional Integration in the Sphere of Business Infrastructure in the European Union in the Years 2000-2008," Journal of Reviews on Global Economics, Lifescience Global, vol. 2, pages 131-141.
    4. Adam P. Balcerzak, 2015. "Europe 2020 Strategy and Structural Diversity Between Old and New Member States. Application of zero-unitarizatin method for dynamic analysis in the years 2004-2013," Working Papers 122/2015, Institute of Economic Research, revised Apr 2015.
    5. Adam P. Balcerzak & Michal Bernard Pietrzak, 2014. "Efektywnosc instytucjonalna krajow Unii Europejskiej w kontekscie globalnej gospodarki opartej na wiedzy," Working Papers 17/2014, Institute of Economic Research, revised Nov 2014.
    6. Magdalena Olczyk, 2014. "Structural Heterogeneity Between Eu 15 And 12 New Eu Members – The Obstacle To Lisbon Strategy Implementation?," Equilibrium. Quarterly Journal of Economics and Economic Policy, Institute of Economic Research, vol. 9(4), pages 21-43, December.
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    Cited by:

    1. Tadeusz A. Grzeszczyk & Jacek Pełszynski, 2020. "Towards a conceptualization of a social efficiency notion in management sciences," Ekonomia i Prawo, Uniwersytet Mikolaja Kopernika, vol. 19(1), pages 33-46, March.
    2. Agnieszka Sompolska-Rzechula & Agnieszka Kurdys-Kujawska, 2020. "Quality of Life of Rural and Urban Population in Poland: Evaluation and Comparison," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 645-656.

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    More about this item

    Keywords

    European Union; HDI; research and development expenditures; dynamic panel model;
    All these keywords.

    JEL classification:

    • I3 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development

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