Research and Development and Economic Growth: EU Port Regions
Investment in research and development (R&D) creates preconditions for the implementation of more advanced and better technologies. It enables the introduction of new products or production processes which can result in higher earnings and potential economic growth. Even though...
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Format: | Article |
Language: | deu |
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Faculty of Economics University of Rijeka
2019-12-01
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Series: | Zbornik radova Ekonomskog fakulteta u Rijeci : časopis za ekonomsku teoriju i praksu |
Subjects: | |
Online Access: | https://www.efri.uniri.hr/upload/ZBORNIK%202_2019/04-Mudronja-Jugovic-Skalamera-Alilovic-2019-2-1.pdf |
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author | Gorana Mudronja Alen Jugović Dunja Škalamera-Alilović |
author_facet | Gorana Mudronja Alen Jugović Dunja Škalamera-Alilović |
author_sort | Gorana Mudronja |
collection | DOAJ |
description | Investment in research and development (R&D) creates preconditions for the implementation of more advanced and better technologies. It enables the introduction of new products or production processes which can result in higher earnings and potential economic growth. Even though research and development is a catalyst for the genesis of aggregate economic activity, its importance is not widely researched at regional levels. The European Union has defined strategies which view innovation as an essential element in stimulating growth and job creation. The aim of this paper is to establish and measure the impact of investment in R&D on economic growth of port regions. The data used in this research were panel data of the European Union’s port regions for NUTS 2 classification for the period from 2005 to 2015. The results of the two-step Generalized Method of Moments (GMM) indicate that investment in R&D has a significant impact on the economic growth of the port regions in European Union. However, in order for innovations to be accepted and implemented, it is also necessary for regions to have specific economic structure which was further analyzed in this paper. Regions with high innovation capacity create greater economic benefits and are considered to grow faster than other regions. |
first_indexed | 2024-12-10T23:46:18Z |
format | Article |
id | doaj.art-985d92eaed91437c92f42e00ab6778ea |
institution | Directory Open Access Journal |
issn | 1331-8004 1846-7520 |
language | deu |
last_indexed | 2024-12-10T23:46:18Z |
publishDate | 2019-12-01 |
publisher | Faculty of Economics University of Rijeka |
record_format | Article |
series | Zbornik radova Ekonomskog fakulteta u Rijeci : časopis za ekonomsku teoriju i praksu |
spelling | doaj.art-985d92eaed91437c92f42e00ab6778ea2022-12-22T01:28:55ZdeuFaculty of Economics University of RijekaZbornik radova Ekonomskog fakulteta u Rijeci : časopis za ekonomsku teoriju i praksu1331-80041846-75202019-12-0137258760210.18045/zbefri.2019.2.587Research and Development and Economic Growth: EU Port RegionsGorana Mudronja0 Alen Jugović1Dunja Škalamera-Alilović2maritime economicsmaritime economicsusiness environment, knowledge economyInvestment in research and development (R&D) creates preconditions for the implementation of more advanced and better technologies. It enables the introduction of new products or production processes which can result in higher earnings and potential economic growth. Even though research and development is a catalyst for the genesis of aggregate economic activity, its importance is not widely researched at regional levels. The European Union has defined strategies which view innovation as an essential element in stimulating growth and job creation. The aim of this paper is to establish and measure the impact of investment in R&D on economic growth of port regions. The data used in this research were panel data of the European Union’s port regions for NUTS 2 classification for the period from 2005 to 2015. The results of the two-step Generalized Method of Moments (GMM) indicate that investment in R&D has a significant impact on the economic growth of the port regions in European Union. However, in order for innovations to be accepted and implemented, it is also necessary for regions to have specific economic structure which was further analyzed in this paper. Regions with high innovation capacity create greater economic benefits and are considered to grow faster than other regions.https://www.efri.uniri.hr/upload/ZBORNIK%202_2019/04-Mudronja-Jugovic-Skalamera-Alilovic-2019-2-1.pdfeconomic growthinvestment in r&dport regionseuropean union |
spellingShingle | Gorana Mudronja Alen Jugović Dunja Škalamera-Alilović Research and Development and Economic Growth: EU Port Regions Zbornik radova Ekonomskog fakulteta u Rijeci : časopis za ekonomsku teoriju i praksu economic growth investment in r&d port regions european union |
title | Research and Development and Economic Growth: EU Port Regions |
title_full | Research and Development and Economic Growth: EU Port Regions |
title_fullStr | Research and Development and Economic Growth: EU Port Regions |
title_full_unstemmed | Research and Development and Economic Growth: EU Port Regions |
title_short | Research and Development and Economic Growth: EU Port Regions |
title_sort | research and development and economic growth eu port regions |
topic | economic growth investment in r&d port regions european union |
url | https://www.efri.uniri.hr/upload/ZBORNIK%202_2019/04-Mudronja-Jugovic-Skalamera-Alilovic-2019-2-1.pdf |
work_keys_str_mv | AT goranamudronja researchanddevelopmentandeconomicgrowtheuportregions AT alenjugovic researchanddevelopmentandeconomicgrowtheuportregions AT dunjaskalameraalilovic researchanddevelopmentandeconomicgrowtheuportregions |