Does research and development expenditure impact innovation? Evidence from the European Union countries

Panagiotis Pegkas, Christos Staikouras and Constantinos Tsamadias

Journal of Policy Modeling, 2019, vol. 41, issue 5, 1005-1025

Abstract: This study empirically investigates the relationship between innovation and Research & Development expenditure in European Union countries over the period 1995–2014. The findings of the empirical analysis show that there is a co-integration relationship between innovation and R&D. The results also reveal the existence of a positive and significant effect of business, public and higher education R&D on innovation. Business R&D is the sector with the highest positive effect on innovation. The results indicate that EU should strengthen the cooperation between business, public and higher education R&D through the encouragement of partnerships between the private sector, R&D and innovation system.

Keywords: R&D; Innovation; Public policy; European Union; Panel data (search for similar items in EconPapers)
JEL-codes: C33 O30 O38 O52 (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (29)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jpolmo:v:41:y:2019:i:5:p:1005-1025

DOI: 10.1016/j.jpolmod.2019.07.001

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