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

Ari Kokko, Patrik Tingvall and Josefin Videnord

Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), 2015, vol. 9, No 2015-40, 26 pages

Abstract: In this paper we 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; US; Economic Growth (search for similar items in EconPapers)
JEL-codes: C82 F43 O47 O51 O52 (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (10)

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http://dx.doi.org/10.5018/economics-ejournal.ja.2015-40
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Related works:
Working Paper: 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:ifweej:201540

DOI: 10.5018/economics-ejournal.ja.2015-40

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