J 2017

Does public RandD expenditure matter for economic growth? GMM approach

SZAROWSKÁ, Irena

Basic information

Original name

Does public RandD expenditure matter for economic growth? GMM approach

Authors

SZAROWSKÁ, Irena (203 Czech Republic, guarantor, belonging to the institution)

Edition

Journal of International Studies, 2017, 2071-8330

Other information

Language

English

Type of outcome

Article in a journal

Field of Study

50202 Applied Economics, Econometrics

Country of publisher

Poland

Confidentiality degree

is not subject to a state or trade secret

References:

RIV identification code

RIV/47813059:19520/17:00010952

Organization unit

School of Business Administration in Karvina

Keywords in English

research and development; economic growth; direct funding; incentives; GMM
Changed: 7/2/2020 10:58, RNDr. Daniel Jakubík

Abstract

In the original language

The aim of the paper is to quantify the impact of public research and development (RandD) expenditure on economic growth. The empirical evidence focuses on the 20 selected EU member states in the period of 1995-2013. The research is based on a dynamic panel regression model (Generalized Method of Moments). The results confirm positive and statistically significant impact of government RandD expenditure, which is the main driver for economic growth during the analysed period. Contrary, business expenditure on the same is found to be insignificant. Traditional growth variables (higher share of qualified human resources and higher intensity of investments) report the positive effects, although in the case of investments - only partial one. The significance for RandD coefficient remains robust to different sub-periods.