THE ROLE OF RESEARCH AND DEVELOPMENT INVESTMENT IN THE ECONOMIC CONVERGENCE PROCESS OF EUROPE (2015-2024)

Mihalceanu (stan) Ecaterina and Stan Razvan-Stefan
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Mihalceanu (stan) Ecaterina: DOCTORAL SCHOOL OF ECONOMIC STUDIES CONSTANTIN BRANCUSI UNIVERSITY OF TARGU JIU, ROMANIA
Stan Razvan-Stefan: DOCTORAL SCHOOL OF ECONOMIC STUDIES CONSTANTIN BRANCUSI UNIVERSITY OF TARGU JIU, ROMANIA

Annals - Economy Series, 2025, vol. 6, 539-543

Abstract: The paper investigates the relationship between research and development (R&D) investment and real economic convergence in Europe during 2015-2024. Using Eurostat data, a multiple linear regression model is estimated to explain the growth rate of GDP per capita (PPS) as a function of initial GDP levels and R&D investment. The results confirm β-convergence, indicating faster growth in economies with lower initial GDP, while the R&D coefficient is not statistically significant, suggesting a predominantly indirect and delayed impact mediated through productivity and innovation. The conclusions highlight the priority of investment in human capital, digital infrastructure, and innovation as key pillars of sustainable convergence.

Keywords: economic convergence; research and development; European Union; R&D; GDP per capita (PPS); public investment (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:cbu:jrnlec:y:2025:v:6:p:539-543

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