Advances in Economics and Business Vol. 6(5), pp. 322 - 331
DOI: 10.13189/aeb.2018.060506
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Factors Affecting the Relationship between Research and Development (R&D) and Economic Development in EU


Lyroni Athina , Anastasiou Athanasios *, Liargovas Panagiotis , Dermatis Zacharias , Komninos Dimitrios
Department of Economic Studies, University of Peloponnese, Greece

ABSTRACT

This paper explores the relation between R&D and economic growth using data from the EU-28 countries for the period 2001-2014. We consider panel data econometric techniques and control variables commonly used in the literature are analyzed together with a number of other variables to which existing studies often give little attention. Our results suggest that R&D expenditure and the patents (European Patent Office – EPO) have a positive and significant effect on economic growth for all countries.

KEYWORDS
R&D Expenditure, Economic Growth, EU, Innovation, Patents

Cite this paper
Lyroni Athina , Anastasiou Athanasios , Liargovas Panagiotis , Dermatis Zacharias , Komninos Dimitrios . "Factors Affecting the Relationship between Research and Development (R&D) and Economic Development in EU." Advances in Economics and Business 6.5 (2018) 322 - 331. doi: 10.13189/aeb.2018.060506.