Advances in Economics and Business Vol. 6(5), pp. 322 - 331
DOI: 10.13189/aeb.2018.060506
Reprint (PDF) (516Kb)


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 in IEEE or APA Citation Styles
(a). IEEE Format:
[1] 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, Vol. 6, No. 5, pp. 322 - 331, 2018. DOI: 10.13189/aeb.2018.060506.

(b). APA Format:
Lyroni Athina , Anastasiou Athanasios , Liargovas Panagiotis , Dermatis Zacharias , Komninos Dimitrios (2018). Factors Affecting the Relationship between Research and Development (R&D) and Economic Development in EU. Advances in Economics and Business, 6(5), 322 - 331. DOI: 10.13189/aeb.2018.060506.