Research and Development Investment as Determinant of International Competitiveness and Economic Growth in Eu28 and Serbia

Jelena Vasić 1 , Nataša Kecman 1 , and Igor Mladenović 2
  • 1 Chamber of Commerce and Industry of Serbia, Serbia
  • 2 University of Nis, Faculty of Economics, Republic of Serbia

Abstract

R&D expenditures (R&D) are an important precondition for the economic growth and development, as well as for the improvement of export performances and competitiveness of national economies. Knowledge has been increasingly identified as the primary factor of economic growth in the modern business environment. In order to outline appropriate policy on R&D expenditures, it is necessary to analyse indicators of the dynamics and quality of R&D expenditures as well as indicators regarding growth and development of national economies. In this paper, we present R&D expenditures of old and new EU Member States as well as Serbia. Based on the correlation intensity of indicators of R&D expenditures and economic growth and export, it’s been analysed if R&D intensity has an impact on competitiveness and growth in mentioned countries since 2000. Although Serbia has implemented significant economic reforms since 2000 and there has been an overall awareness of the need on higher R&D, the R&D sector still lags behind developed countries of the EU. Therefore, this paper directs attention to the importance of identifying and implementing a national policy on R&D expenditures, with special focus on necessity for improved R&D funding of the business sector and growth of R&D funding from abroad.

If the inline PDF is not rendering correctly, you can download the PDF file here.

  • Aw Y. B., RobertsM. J., Xu D. Y. (2008). R&D Investments, Exporting, and the Evolution of Firm Productivity. American Economic Review, Papers and Proceedings, Vol 98, No. 2, pp 451-456.

  • Chen Xi (2011). R&D and ICT investment and GDP - A study of OECD countries. Jönköping International Business School.

  • EUROSTAT, downloaded from: http://ec.europa.eu/eurostat, accessed on 20 January 2016.

  • Evropski Parlament (2000), preuzeto sa: http://www.europarl.europa.eu/summits/lis1_en.htm, accessed on 24. January 2016.

  • Grima, S., Görg, H. and Hanley, A. (2007). R&D and exporting: A comparison of British and Irish firms. Research Paper Series: Globalisation, Productivity and Technology. doi: https://www.nottingham.ac.uk/gep/documents/papers/2007/07-18.pdf.

  • Harris R. and Moffat, J. (2011). R&D, Innovation and Exporting. SERC Discussion Paper 73. Spatial Economic Research Centre

  • Havas A., Izsak, K., Markianidou, P. and Radošević, S. (2015). Comparative analysis of policy-mixes of research and innovation policies in Central and Eastern European countries. GRINCOH Working Paper Series, Paper No. 3.12, doi: 10.2139/ssrn.2577569

  • High Level Expert Group, (2015). COMMITMENT and COHERENCE essential ingredients for success in science and innovation - Ex‐Post‐Evaluation of the 7th EU Framework Programme (2007‐2013).European Commission. Brussels

  • Lepori, B., Masso, J., Jabłecka, J., Sima, K. and Ukrainski, K. (2009). Comparing the organization of public research funding in central and eastern European countries.Science and Public Policy, 36(9): 667-681, doi 10.3152/030234209X479494; http://www.ingentaconnect.com/content/beech/spp.

  • Lucas, Jr., Robert E., (1988). On the Mechanics of Economic Development. Journal of Monetary Economics, 22(4), str. 3-42.

  • Lykogianni, E., Verbeek A. (2008). A Time Analysis of the Development in National R&D Intensities and National Public Expenditures on R&D, In relation to (PPCT- M2-2005-0001): Framework Service Contract for Expert Support with the Production and Analysis of R&D Policy Indicators, Rindicate.

  • Ministarstvo prosvete, nauke i tehnološkog razvoja (2015), Nacrt Strategije naučnog i tehnološkog razvoja Republike Srbije za period od 2016. do 2020. godine - Istraživanje za inovacije. downloaded from http://www.mpn.gov.rs/wpcontent/uploads/2015/08/Strategija-nauka-za-inovacije-17-NOVO.pdf, accessed on 24 January 2016.

  • OECD/Eurostat (2005).Oslo Manual: Guidelines for Collecting and Interpreting Innovation Data, 3rd Edition, The Measurement of Scientific and Technological Activities, OECD Publishing, Paris.

  • OECD (2015). Frascati Manual 2015: Guidelines for Collecting and Reporting Data on Research and Experimental Development, The Measurement of Scientific, Technological and Innovation Activities, OECD Publishing, Paris.

  • PRO-INNO Europe Innovation Index (IUS-2015).

  • Romer, P. M., (1986). Increasing Returns and Long-Run Growth. Journal of Political Economy, 94(5), pp. 1002-1037.

  • Romer, P. M. (1990). Endogenous Technological Change.The Journal of Political Economy, Vol. 98, No. 5, Part 2: The Problem of Development: A Conference of the Institute for the Study of Free Enterprise Systems. (Oct., 1990), pp. S71- S102.

  • RZS, downloaded from: http://webrzs.stat.gov.rs/WebSite/public/ReportView.aspx, accessed on 20 January 2016

  • Solow, R. (1956). A Contribution to the Theory of Economic Growth.The Quarterly Journal of Economics, Vol. 70, No. 1 (Feb., 1956), pp. 65-94. The MIT Press.

  • UNCTADSTAT, downloaded: http://unctadstat.unctad.org/wds/TableViewer/downloadPrompt.aspx, accessed on 20 January 2016.

  • Vlada Republike Srbije (2010).Strategija naučnog i tehnološkog razvoja Republike Srbije za period od 2010. do 2015. godine (Sl. glasnik RS br. 13/10), preuzeto sa: http://www.gs.gov.rs/lat/strategije-vs.html, pristupljeno: 24.01.2016.

  • World bank (2013), download from http://www.worldbank.org/content/dam/Worldbank/document/eca/Western-Balkans-R%26D-Strategy-Innovation.pdf, accessed on 10 January 2016.

OPEN ACCESS

Journal + Issues

Search