The Growth Effects of R&D Spending in the EU: A Meta-Analysis

Ari Kokko, Patrik Tingvall and Josefin Videnord ()
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Josefin Videnord: The Ratio institute and Uppsala university, Postal: The Ratio Institute, P.O. Box 5095, SE-102 42 Stockholm, Sweden, http://ratio.se/medarbetare/josefine-videnord/

No 254, Ratio Working Papers from The Ratio Institute

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; USA; Economic Growth (search for similar items in EconPapers)
JEL-codes: F43 O51 O52 (search for similar items in EconPapers)
Pages: 25 pages
Date: 2015-04-14
New Economics Papers: this item is included in nep-eec, nep-gro, nep-ino, nep-sbm and nep-tid
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (10)

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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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