Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/122200
Authors: 
Kokko, Ari
Tingvall, Patrik Gustavsson
Videnord, Josefin
Year of Publication: 
2015
Citation: 
[Journal:] Economics: The Open-Access, Open-Assessment E-Journal [Volume:] 9 [Issue:] 2015-40 [Pages:] 1-26
Abstract: 
In this paper we 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.
Subjects: 
meta-analysis
R&D
European Union
EU15
US
Economic Growth
JEL: 
C82
F43
O47
O51
O52
Persistent Identifier of the first edition: 
Creative Commons License: 
http://creativecommons.org/licenses/by/3.0/
Document Type: 
Article

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