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The Link between Human Resources in Science and Technology and Regional Economic Development in the EU

Jan Hunady, Marta Orviska and Peter Pisar

A chapter in Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference, Dubrovnik, Croatia, 7-9 September 2017, 2017, pp 405-411 from IRENET - Society for Advancing Innovation and Research in Economy, Zagreb

Abstract: Science and technology is seen as the key factor supporting the performance of regional innovation systems. Furthermore, the innovation intensity in the region could be often crucial for regional economic development. Our research aims to examine the potential link between the economic development of the region and the intensity of science and technology activities proxied by the share of employees in science and technology. The analysis is based on panel data for NUTS2 regions of EU member states in the period 2003-2014. We conducted correlation analysis, panel Granger causality tests and regression analysis. Our results suggest the existence of a significant positive correlation between GDP per capita and the share of employees in science and technology. Moreover, the regions with higher intensity of science and technology activities are mostly characterized by relatively low unemployment rates and a higher proportion of residents with a university education.

Keywords: science and technology; regional development; university education; innovation; economic development (search for similar items in EconPapers)
JEL-codes: O30 I23 R59 (search for similar items in EconPapers)
Date: 2017
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