The growth effects of R&D spending in the EU: A meta-analysis

Ari Kokko, Patrik Tingvall and Josefin Videnord

No 2015-29, Economics Discussion Papers from Kiel Institute for the World Economy

Abstract: In this paper the authors conduct a meta-analysis to examine the link between R&D spending and economic growth in the EU and other regions. The results suggest that the growth-enhancing effect of R&D in the EU15 countries does not differ from that in other countries in general, but it is less significant than that for other industrialized countries. A closer inspection of the data reveals that the weak results for the EU15 stem from comparisons with the US - the US has been able to generate a stronger growth response from its R&D spending. Possible explanations for the US advantage include higher private sector investment in R&D and stronger public-private sector linkages than in the EU. Hence, to reduce the "innovation gap" vis-à-vis the US, it may not be enough for the EU to raise the share of R&D expenditures in GDP: continuous improvements in the European innovation system will also be needed, with focus on areas like private sector R&D and public-private sector linkages.

Keywords: meta-analysis; R&D; European Union; EU15; USA; economic growth (search for similar items in EconPapers)
JEL-codes: F43 O51 O52 (search for similar items in EconPapers)
Date: 2015
New Economics Papers: this item is included in nep-eur, nep-gro, nep-ino, nep-sbm and nep-tid
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Citations: View citations in EconPapers (10)

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http://www.economics-ejournal.org/economics/discussionpapers/2015-29
https://www.econstor.eu/bitstream/10419/109940/1/823784800.pdf (application/pdf)

Related works:
Journal Article: The growth effects of R&D spending in the EU: A meta-analysis (2015)
Working Paper: The Growth Effects of R&D Spending in the EU: A Meta-Analysis (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:ifwedp:201529

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