Open Access
Article
SciPap-2055
The Impact of Selected R+D Indicators on Economic Activity in EU Countries
1 , Moravian Business College Olomouc, Tř. Kosmonautů 1288/1, Olomouc 779 00, Czechia
2 Department of Technical and Vocational Education, University of Ostrava, Faculty of Education, Fr. Šrámka 3, Ostrava 709 00, Czechia
3 Department of Mathematical Methods in Economics, VSB -Technical University of Ostrava, Faculty of Economics, 17. listopadu 2172/15, Ostrava- Poruba 708 00, Czechia
* Authors to whom correspondence should be addressed.
Abstract: The R&D sector is one of the important economic phenomena in terms of competitiveness and innovation performance. The aim of the study is to examine the impact of selected R&D indicators on the economic activity of EU countries with emphasis on economic growth and employment in knowledge-intensive service sectors in 2011-2021. The research was carried out using panel data analysis (the fixed effects method) for three models of EU countries (EU27 countries as a whole and EU27 countries divided into two groups according to their innovation performance). The results in the evaluated years confirmed the different (positive/negative) impact of the examined R&D indicators on economic growth and employment in knowledge-intensive service sectors between the different groups of EU countries. In the “Innovation Leaders and Strong Innovators” countries, high-tech exports had the largest positive effect on GDP per capita, and general government expenditures had the largest negative effect. The largest negative effect of government expenditures on tertiary education was found in the case of Employment in knowledge-intensive service sectors. By contrast, in the case of GDP per capita and employment in knowledge-intensive service sectors, the largest negative effect of government expenditures on tertiary education and the positive effect of research and development expenditures were found in the “Moderate Innovators and Emerging Innovators countries”. The findings may be useful for both makers of selected public policies and R&D practitioners in evaluating economic analysis.
Keywords: Economic Growth, Employment, Panel Data Analysis, R&D Indicators, Knowledge-Intensive Service Sectors
JEL classification: C23 - Panel Data Models • Spatio-temporal Models, O - Economic Development, Innovation, Technological Change, and Growth, O11 - Macroeconomic Analyses of Economic Development
Received: 24 August 2024 / Revised: 2 October 2024 / Accepted: 4 October 2024 / Published: 29 October 2024
