The Driving Forces of Business R&D Intensity in Eastern European Countries
Özcan Karahan () and
Olcay Çolak ()
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Özcan Karahan: Bandırma Onyedi Eylül University
Olcay Çolak: Uşak University
A chapter in Business Performance and Financial Institutions in Europe, 2020, pp 35-45 from Springer
Abstract Identifying the driving forces of enterprise R&D spending, which is important for achieving long-term economic growth, has become an important research topic for economists. Accordingly, our study aims to determine the driving forces of business R&D expenditures in the Eastern European region. In this context, panel data regression models have been used to determine the impacts of human capital, high technology density and public R&D expenditures on the business R&D intensity of the Eastern European countries. The empirical results show that all three factors have a significant and positive effect on the business R&D intensity of the Eastern European area. More specifically, high-tech industrial structure is seen as the most impressive factor for business R&D expenditures, while human capital is second and public R&D expenditures play a third role. Therefore, within the framework of innovation policies aiming to increase business R&D expenditures, priority should be given to increase the share of manufacturing sector that makes production based on the advanced technology in the economy. Besides, to invest more in human capital and public R&D activities may be other significant options for effective innovation policies that will be implemented in Eastern European countries.
Keywords: R&D expenditure; Eastern European countries; Panel data models (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:spr:conchp:978-3-030-57517-5_2
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