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Research And Development In The European Union

Author

Listed:
  • Gheorghe Hurduzeu

    (Bucharest University of Economic Studies Faculty of International Business and Economics)

  • Maria Isadora Lazar

    (Bucharest University of Economic Studies Faculty of International Business and Economics)

Abstract

In the aftermath of the economic crisis, measures have been taken in order to set the paths towards a sustainable growth in the European Union. One of these measures was objectified through Europe 2020 Strategy that was meant to ensure a smart, sustainable and inclusive growth. The smart growth was expected to be achieved through improvements in research and development, innovation and education. In this paper we decided to address Europe’s smart growth, taking into consideration one of its main pillars: research and development. We have taken into consideration data for the 28 European Union member states and applied a comparative analysis of the dynamics of research and development expenditures for the last ten years, analyzing data from Eurostat database. Our results highlighted the increasing interest in the research and development activities in the last years. For a better understanding of the dynamics, we analyzed also the structure of the R&D expenditure, by the following four institutional sectors: business enterprise, government, higher education, private non-profit with the total of sectors. In most of the European Union member states the main sector of performance in R&D expenditures is the business sector, followed by higher education sector. However, this is not the cases in all countries, some of them having a different structure in this respect. In some countries, as Latvia and Lithuania, the higher education sector is the main funder of R&D activities, while in other countries, as Romania, R&D activities are conducting with the support of both private and public funding, in almost equal contribution. However, despite the differences in structure, the general trend is of increasing R&D funding, highlighting the increasing interest for innovation and more knowledge intensive outcomes. Even if progress has been registered, in most European Union member states efforts should be made in order to support R&D activities, as to meet the Europe 2020 target, but primarily for boosting innovation.

Suggested Citation

  • Gheorghe Hurduzeu & Maria Isadora Lazar, 2016. "Research And Development In The European Union," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(1), pages 129-135, July.
    • Handle: RePEc:ora:journl:v:1:y:2016:i:1:p:129-135
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    References listed on IDEAS

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    1. Richard Owen & Phil Macnaghten & Jack Stilgoe, 2012. "Responsible research and innovation: From science in society to science for society, with society," Science and Public Policy, Oxford University Press, vol. 39(6), pages 751-760, December.
    2. Paolo Pasimeni, 2013. "The Europe 2020 Index," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 110(2), pages 613-635, January.
    3. Gheorghe Hurduzeu & Maria-Isadora Lazar, 2015. "An Analysis of Economic Growth, Competitiveness and Macroeconomic Imbalances in the European Union," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 18(57), pages 37-50, September.
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    More about this item

    Keywords

    research and development; European Union; business enterprise; government expenditure; higher education;
    All these keywords.

    JEL classification:

    • H52 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Education
    • I23 - Health, Education, and Welfare - - Education - - - Higher Education; Research Institutions
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development

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