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(Reference retrieved automatically from Web of Science through information on FAPESP grant and its corresponding number as mentioned in the publication by the authors.)

The dual role of R&D expenditures in European Union's member states: short- and long-term prospects

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Author(s):
Torrecillas, Celia [1, 2] ; Fischer, Bruno B. [3] ; Sanchez, Andrea [4]
Total Authors: 3
Affiliation:
[1] Univ Europea Madrid, Dept Adm & Direcc Empresas, Fac Ciencias Soci & Comunicac, C Tajo S-N, Madrid 28670 - Spain
[2] Univ Complutense Madrid, Inst Complutense Estudios Int, C Tajo S-N, Madrid 28670 - Spain
[3] Univ Estadual Campinas, Sch Appl Sci, Rua Pedro Zaccaria, BR-13484350 Jardim Santa Luiza, Limeira - Brazil
[4] Univ Europea Madrid, Dept Econ & Int Relat, C Tajo S-N, Madrid 28670 - Spain
Total Affiliations: 4
Document type: Journal article
Source: INNOVATION-THE EUROPEAN JOURNAL OF SOCIAL SCIENCE RESEARCH; v. 30, n. 4, p. 433-454, 2017.
Web of Science Citations: 1
Abstract

The objective of this article is to assess a potential dual role of public expenditures in R\&D upon economic growth and employment, using these dimensions as partial representations of the socioeconomic state of affairs in European Union's Member States. First, we look into direct, short-term impacts arising from R\&D expenditures, much in the sense of a multiplier effect. Second, we analyse impacts from the stage of development of National Innovation Systems (NIS) upon the macroeconomic conditions of interest, assuming that current stages of development are products of previous commitment to innovation, that is, a structural, long-term outcome of innovation-oriented investments. In order to empirically test our propositions, we have analysed 28 EU Member States (1990-2013) through three sets of econometric (static and dynamic panel data) models. Results highlight that EU countries' governmental commitment to their respective innovation systems catalyses current and prospective economic growth and employment levels, suggesting a complementarity between Neo-Schumpeterian and Neo-Keynesian perceptions over governmental R\&D involvement. This can bring innovation efforts closer to the macroeconomic debate on monetary and fiscal policies and function as a criticism to austerity measures, as this may not only affect the present socioeconomic situation, but also generate the cornerstone for a perennial state of divergence among EU Member States. (AU)

FAPESP's process: 16/17801-4 - THE ECONOMIC GEOGRAPHY OF ENTREPRENEURIAL ECOSYSTEMS IN THE STATE OF SÃO PAULO
Grantee:Bruno Brandão Fischer
Support Opportunities: Regular Research Grants