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Szarowská Irena (School of Business Administration, Silesian University, Karviná, Czech Republic)
Does public R&D expenditure matter for economic growth? GMM approach
Journal of International Studies, 2017, vol. 10, nr 2, s. 90-103, rys., tab., bibliogr. 48 poz.
Słowa kluczowe
Wzrost gospodarczy, Wydatki publiczne, Placówki badawczo-rozwojowe, Uogólniona metoda momentów
Economic growth, Public expenditures, R&D facility research, Generalized method of moments (GMM)
Klasyfikacja JEL: O38, H25, F63
summ., This paper ensued thanks to the support of Student Grant System of Silesian University SGS/17/2015 "Financial instruments of public support for research and development in the European Union" and of the Ministry of Education, Youth and Sports Czech Republic within the Institutional Support for Long-term Development of a Research Organization in 2017
The aim of the paper is to quantify the impact of public research and development (R&D) expenditure on economic growth. The empirical evidence focuses on the 20 selected EU member states in the period of 1995-2013. The research is based on a dynamic panel regression model (Generalized Method of Moments). The results confirm positive and statistically significant impact of government R&D expenditure, which is the main driver for economic growth during the analysed period. Contrary, business expenditure on the same is found to be insignificant. Traditional growth variables (higher share of qualified human resources and higher intensity of investments) report the positive effects, although in the case of investments - only partial one. The significance for R&D coefficient remains robust to different sub-periods. (original abstract)
Pełny tekst
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