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Source: Journal Citation ReportsTM from ClarivateTM 2022

Entrepreneurship and Sustainability Issues Open access
Journal Impact FactorTM (2022) 1.7
Journal Citation IndicatorTM (2022) 0.42
Received: 2021-11-15  |  Accepted: 2022-01-24  |  Published: 2022-03-30

Title

R&D expenditure, innovation performance and economic development of the EU countries


Abstract

Innovation plays the key role in economic development and also in the growth of the wealth of countries. Innovation is the driving force of each economy, competitiveness of the economy and a main essential component of the knowledge economy, which is based on the production of higher added value and support of the research and development (R&D). Therefore, the European Union with an effort to compete with other world economies is creating the frameworks of innovation policy in order to implement, maintain and disseminate innovation and innovative potential in all areas of socio-economic life. However, the innovation performance and potential differ significantly among the EU countries, and so the wealth of the countries. The main objective of the research made was to identify and quantify the possible impact of R&D expenditure on innovation performance and possible impact of the innovation performance on economic development of the EU countries. To achieve this goal a set of statistical methods was used, main of which is regression and correlation. In the result of our research, we have shown a significant interdependence between R&D expenditure, innovation performance and level of economic development of the EU countries.


Keywords

economic impact, innovation performance, R&D expenditure, real GDP per capita, economic development of the countries, EU


JEL classifications

O11 , O30


URI

http://jssidoi.org/jesi/article/946


DOI


Pages

227-241


Funding

This article was created within the research project of the Scientific Grant Agency of the Ministry of Education, Science, Research and Sports of the Slovak Republic and Slovak Academy of Sciences, No. 1/0466/21 - Evaluation of business quality environment in Slovakia with an emphasis on starting a business in the pre- and post-pandemic period.

This is an open access issue and all published articles are licensed under a
Creative Commons Attribution 4.0 International License

Authors

Kučera, Jozef
Matej Bel University in Banská Bystrica, Banská Bystrica, Slovakia https://www.umb.sk
Articles by this author in: CrossRef |  Google Scholar

Fiľa, Milan
Constantine the Philosopher University in Nitra, Nitra, Slovakia https://www.ukf.sk
Articles by this author in: CrossRef |  Google Scholar

Journal title

Entrepreneurship and Sustainability Issues

Volume

9


Number

3


Issue date

March 2022


Issue DOI


ISSN

ISSN 2345-0282 (online)


Publisher

VšĮ Entrepreneurship and Sustainability Center, Vilnius, Lithuania

Cited

Google Scholar

Article views & downloads

HTML views: 2165  |  PDF downloads: 770

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