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The Growth Effects of R&D Spending in the EU: A Meta-Analysis
Copenhagen Business School, Denmark.
Södertörn University, School of Social Sciences, Economics. Ratio Institute.
Uppsala university / Ratio Institute.
2015 (English)In: Economics, ISSN 1864-6042, E-ISSN 1864-6042, Vol. 9, 2015-40Article in journal (Refereed) Published
Abstract [en]

In this paper the authors conduct a meta-analysis to examine the link between R&D spending and economic growth in the EU and other regions. The results suggest that the growth-enhancing effect of R&D in the EU15 countries does not differ from that in other countries in general, but it is less significant than that for other industrialized countries. A closer inspection of the data reveals that the weak results for the EU15 stem from comparisons with the US – the US has been able to generate a stronger growth response from its R&D spending. Possible explanations for the US advantage include higher private sector investment in R&D and stronger public-private sector linkages than in the EU. Hence, to reduce the “innovation gap” vis-à-vis the US, it may not be enough for the EU to raise the share of R&D expenditures in GDP: continuous improvements in the European innovation system will also be needed, with focus on areas like private sector R&D and public-private sector linkages.

Place, publisher, year, edition, pages
2015. Vol. 9, 2015-40
Keyword [en]
meta-analysis; R&D; European Union; EU15; USA; Economic Growth
National Category
Economics
Identifiers
URN: urn:nbn:se:sh:diva-28685DOI: 10.5018/economics-ejournal.ja.2015-40ISI: 000366557400001OAI: oai:DiVA.org:sh-28685DiVA: diva2:867661
Available from: 2015-11-06 Created: 2015-11-06 Last updated: 2016-01-08Bibliographically approved

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