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Research and development expenditures between discretionary costs and source for economic growth

Author

Listed:
  • Alexandru AVRAM

    (West University of Timisoara,Romania)

  • Costin Daniel AVRAM

    (University of Craiova,Romania)

  • Veronel AVRAM

    (University of Craiova,Romania)

Abstract

At the microeconomic level, the research and development costs are included in a broader category known as "discretionary costs", i.e. they are not mandatory and occur as a result of managerial decisions. At the macroeconomic level, research and development spending stimulates innovation and contributes in this way to increase and diversify production, performance, productivity and economic efficiency.The Europe 2020 Strategy, based on the role of research and development expenses in the current period, has set a target on medium term for such expenditures: to rise up to 3% of GDP in the EU for 2020. The source of funding for research and development expenditures may be: state budget allocations to the government sector and higher education institutions and private funds allocated by corporate or nonprofit organizations. Our study aims to rank the impact of research activities undertaken by the government sector, higher education institutions and the private sector by GDP and gross private domestic investment and identify the most appropriate measures for achieving the Europe 2020 goals by Romania.

Suggested Citation

  • Alexandru AVRAM & Costin Daniel AVRAM & Veronel AVRAM, 2014. "Research and development expenditures between discretionary costs and source for economic growth," Romanian Journal of Economics, Institute of National Economy, vol. 39(2(48)), pages 49-66, December.
    • Handle: RePEc:ine:journl:v:39:y:2014:i:48:p:49-66
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    Citations

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    Cited by:

    1. Jong Chan Lee & Yi Joong Won & Sang Young Jei, 2019. "Study of the Relationship between Government Expenditures and Economic Growth for China and Korea," Sustainability, MDPI, vol. 11(22), pages 1-11, November.
    2. Alexandru MANOLE & Diana Valentina Dumitrescu & Daniel Ioan Dumitrescu, 2017. "Economic Potential Of Investments In Research – Development – Innovation For Accelerating Gdp Growth In Romania," Romanian Statistical Review Supplement, Romanian Statistical Review, vol. 65(5), pages 147-154, May.
    3. Kang Sung Hur & Dong Hyun Kim & Joon Hei Cheung, 2019. "Managerial Overconfidence and Cost Behavior of R&D Expenditures," Sustainability, MDPI, vol. 11(18), pages 1-13, September.
    4. Marian Siminicã & Marioara Avram & Luminita Popescu & Roxana Loredana Avram, 2020. "The Adoption of National Green Procurement Plans from the Perspective of Circular Economy," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 22(53), pages 1-15, February.
    5. Alina Georgiana Motoi & Aurelia Dumitru & Liviu Curelaru, 2016. "Basic Accounting in European Projects," Annals of the University of Craiova for Journalism, Communication and Management, Department of Communication, Journalism and Education Sciences, University of Craiova, vol. 2(1), pages 119-130, October.
    6. DomniÅŸoru Sorin & Dragomir Isabela & Dan Roxana Loredana, 2017. "Reflections on Corporate Governance," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 468-473, June.
    7. repec:aio:manmar:v:xvi:y:2019:i:1:p:51-60 is not listed on IDEAS
    8. Dan Roxana Loredana & Buglea Alexandru & Hetes Roxana, 2016. "Comparative Analysis Between The Traditional Model Of Corporate Governance And Islamic Model," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 4, pages 165-170, August.
    9. Marian Sabin Constantin, 2016. "Title Compliance Function Audit In Commercial Banks," Annals of University of Craiova - Economic Sciences Series, University of Craiova, Faculty of Economics and Business Administration, vol. 1(44), pages 19-28.
    10. Rui Min & Hongxin Yang & Xu Mo & Yanbin Qi & Dingde Xu & Xin Deng, 2022. "Does Institutional Social Insurance Cause the Abandonment of Cultivated Land? Evidence from Rural China," IJERPH, MDPI, vol. 19(3), pages 1-11, January.
    11. Tingxi Wang & Hui Zhang, 2022. "Does Counter-Cyclical Monetary Policy Promote Enterprise R&D Investment in a Recession? Empirical Evidence from China," Sustainability, MDPI, vol. 14(10), pages 1-18, May.
    12. Dan Roxana Loredana, 2017. "The Impact Of Company’S Performance Over Corporate Governance," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 1, pages 166-169, February.
    13. Iulia Novacescu, 2019. "Customer Insights In Automotive," Management and Marketing Journal, University of Craiova, Faculty of Economics and Business Administration, vol. 0(1), pages 51-60, May.
    14. Avram Costin Daniel & Avram Marioara & Dragomir Isabela, 2017. "Annual Financial Statements as a Financial Communication Support," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 403-406, June.
    15. Nensi XHANI & Marioara AVRAM & Ilir MECE & Latif CELA, 2019. "Comparative Study on the Organization of Internal Public Audit in Albania and Romania," The Audit Financiar journal, Chamber of Financial Auditors of Romania, vol. 17(155), pages 473-473.

    More about this item

    Keywords

    research; development; discretionary costs; development technological innovation; social capability;
    All these keywords.

    JEL classification:

    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe
    • I25 - Health, Education, and Welfare - - Education - - - Education and Economic Development

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