Innovation, coopetition and spillover effects in European regions
Innovation and investment are critical to economic growth. In this article, we address the complex task of evaluating the capacity of regional innovation to increase investment and generate spillovers in regions of the European Union (EU) from both spatial and temporal perspectives. Using panel dat...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Vilnius Gediminas Technical University
2023-12-01
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| Series: | Journal of Business Economics and Management |
| Subjects: | |
| Online Access: | https://tede.vgtu.lt/index.php/JBEM/article/view/19890 |
| _version_ | 1797387032504303616 |
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| author | Irina Alina Popescu Paulo Reis Mourao Yuriy Bilan |
| author_facet | Irina Alina Popescu Paulo Reis Mourao Yuriy Bilan |
| author_sort | Irina Alina Popescu |
| collection | DOAJ |
| description |
Innovation and investment are critical to economic growth. In this article, we address the complex task of evaluating the capacity of regional innovation to increase investment and generate spillovers in regions of the European Union (EU) from both spatial and temporal perspectives. Using panel data estimation methods and exploring the effects of dynamic spatial autocorrelation, our findings show a positive spatial autocorrelation at the level of EU regions. We also observed spatial competition, both in terms of the distribution of investments and in terms of the diffusion of short-term innovation gains. We argue that, in the short term, EU regions tend to behave as competitors for investment fixing, but in the long run, innovation has the potential to generate spillover effects on neighbouring regions. Furthermore, we find that investment patterns were characterized by a significant temporal autocorrelation, showing that shocks to investment in regions tend to be absorbed in a few periods. This paper attempts to fill existing gaps by using estimation methods for dynamic spatial panel data to identify and explore the effects of regional innovation on investment for the 154 European Union regions, and reports original findings as regards the knowledge spillover across European regions.
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| first_indexed | 2024-03-08T22:17:58Z |
| format | Article |
| id | doaj.art-17412740e8444ed7824ca766af12c463 |
| institution | Directory Open Access Journal |
| issn | 1611-1699 2029-4433 |
| language | English |
| last_indexed | 2024-03-08T22:17:58Z |
| publishDate | 2023-12-01 |
| publisher | Vilnius Gediminas Technical University |
| record_format | Article |
| series | Journal of Business Economics and Management |
| spelling | doaj.art-17412740e8444ed7824ca766af12c4632023-12-18T16:22:44ZengVilnius Gediminas Technical UniversityJournal of Business Economics and Management1611-16992029-44332023-12-0124510.3846/jbem.2023.19890Innovation, coopetition and spillover effects in European regionsIrina Alina Popescu0Paulo Reis Mourao1Yuriy Bilan2Department of International Business & Economics & CCREI, The Bucharest University of Economic Studies, Bucharest, RomaniaDepartment of Economics & NIPE, School of Economics and Management, University of Minho, Braga, PortugalResearch Center for Sustainability and Competitiveness, Budapest Metropolitan University, Budapest, Hungary; UNEC Empirical Research Center, Azerbaijan State University of Economics, Baku, Azerbaijan Innovation and investment are critical to economic growth. In this article, we address the complex task of evaluating the capacity of regional innovation to increase investment and generate spillovers in regions of the European Union (EU) from both spatial and temporal perspectives. Using panel data estimation methods and exploring the effects of dynamic spatial autocorrelation, our findings show a positive spatial autocorrelation at the level of EU regions. We also observed spatial competition, both in terms of the distribution of investments and in terms of the diffusion of short-term innovation gains. We argue that, in the short term, EU regions tend to behave as competitors for investment fixing, but in the long run, innovation has the potential to generate spillover effects on neighbouring regions. Furthermore, we find that investment patterns were characterized by a significant temporal autocorrelation, showing that shocks to investment in regions tend to be absorbed in a few periods. This paper attempts to fill existing gaps by using estimation methods for dynamic spatial panel data to identify and explore the effects of regional innovation on investment for the 154 European Union regions, and reports original findings as regards the knowledge spillover across European regions. https://tede.vgtu.lt/index.php/JBEM/article/view/19890coopetitionregional innovation systemknowledge spilloverinvestmentdynamic spatial panel modeldynamic spatial Durbin model (DSDM) |
| spellingShingle | Irina Alina Popescu Paulo Reis Mourao Yuriy Bilan Innovation, coopetition and spillover effects in European regions Journal of Business Economics and Management coopetition regional innovation system knowledge spillover investment dynamic spatial panel model dynamic spatial Durbin model (DSDM) |
| title | Innovation, coopetition and spillover effects in European regions |
| title_full | Innovation, coopetition and spillover effects in European regions |
| title_fullStr | Innovation, coopetition and spillover effects in European regions |
| title_full_unstemmed | Innovation, coopetition and spillover effects in European regions |
| title_short | Innovation, coopetition and spillover effects in European regions |
| title_sort | innovation coopetition and spillover effects in european regions |
| topic | coopetition regional innovation system knowledge spillover investment dynamic spatial panel model dynamic spatial Durbin model (DSDM) |
| url | https://tede.vgtu.lt/index.php/JBEM/article/view/19890 |
| work_keys_str_mv | AT irinaalinapopescu innovationcoopetitionandspillovereffectsineuropeanregions AT pauloreismourao innovationcoopetitionandspillovereffectsineuropeanregions AT yuriybilan innovationcoopetitionandspillovereffectsineuropeanregions |