Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/206250 
Year of Publication: 
2018
Citation: 
[Journal:] Naše gospodarstvo / Our Economy [ISSN:] 2385-8052 [Volume:] 64 [Issue:] 1 [Publisher:] De Gruyter Open [Place:] Warsaw [Year:] 2018 [Pages:] 18-27
Publisher: 
De Gruyter Open, Warsaw
Abstract: 
This paper focuses on investment in research and development as a factor of labour productivity and economic growth. Our analysis confirms the link between expenditure for research and development (expressed in % of GDP) and labour productivity (expressed in the number of hours worked) based on selected data for EU Member States in the period 1995-2013. A causal link between variables of the concave parabola was confirmed, and the value of expenditure for research and development (2.85% of EU GDP) maximising productivity (per hour of work) was determined based on the examined data. In accordance with these findings, EU's target of reaching 3% of GDP spent on research and development to be achieved by 2020 seems in support of reaching maximum productivity in the EU.
Subjects: 
investment in research and development
productivity
economic growth
correlation
panel analysis
JEL: 
O31
O47
C23
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Article

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