The dual role of R&D expenditures in European Union’s member states
Short- and long-term prospects
Bibliographic Data
| ID | 12531098 |
|---|---|
| Authors | Celia Torrecillas (0000-0003-0439-6025, Departamento de Administración y Dirección de Empresas. Facultad de Ciencias Sociales y de la Comunicación. Universidad Europea de Madrid e Instituto Complutense de Estudios Internacionales, Universidad Complutense de Madrid, C/ Tajo s/n, 28670, Spain), Bruno Brandão Fischer (0000-0003-3878-9097, Universidade Estadual de Campinas (UNICAMP), corresponding author), Andrea Sánchez (0000-0003-2875-662X, Universidad Europea de Madrid), A F López Sánchez (Universidad Europea de Madrid) |
| Year | 2017 |
| Volume | 30 |
| Issue | 4 |
| Pages | 433-454 |
| Publication date | 2017-07-31 |
| Open Access | No |
| Type | ARTICLE |
| Venue | Innovation The European Journal of Social Science Research (JOURNAL) |
| Journal identifiers | ISSN: 1351-1610 • E-ISSN: 1469-8412 |
| Publisher | Taylor & Francis (PUBLISHER • GB) |
| DOI | 10.1080/13511610.2017.1358079 |
| OpenAlex | W2740658257 |
| Language | EN |
| References cited | 47 |
The objective of this article is to assess a potential dual role of public expenditures in R&D upon economic growth and employment, using these dimensions as partial representations of the socioeconomic state of affairs in European Union’s Member States. First, we look into direct, short-term impacts arising from R&D expenditures, much in the sense of a multiplier effect. Second, we analyse impacts from the stage of development of National Innovation Systems (NIS) upon the macroeconomic conditions of interest, assuming that current stages of development are products of previous commitment to innovation, that is, a structural, long-term outcome of innovation-oriented investments. In order to empirically test our propositions, we have analysed 28 EU Member States (1990–2013) through three sets of econometric (static and dynamic panel data) models. Results highlight that EU countries’ governmental commitment to their respective innovation systems catalyses current and prospective economic growth and employment levels, suggesting a complementarity between Neo-Schumpeterian and Neo-Keynesian perceptions over governmental R&D involvement. This can bring innovation efforts closer to the macroeconomic debate on monetary and fiscal policies and function as a criticism to austerity measures, as this may not only affect the present socioeconomic situation, but also generate the cornerstone for a perennial state of divergence among EU Member States
Austerity · Complementarity (molecular biology · Econometrics · Economic and monetary union · Economic system · Economics · European union · International economics · Macroeconomics · Member state · Member states · Panel data · Political science · Fiscal Policy and Economic Growth · Innovation Policy and RD · Regional Development and Policy
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A Note on the Theme of Too Many Instruments
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The effect of unemployment on self-reported health and mental health in Greece from 2008 to 2013
| Highly cited | No |
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