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The Role Of R&D Sector On Fostering Economic Growth. Insights From Romania

Author

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  • Darie GAVRILUT
  • Daniel BADULESCU
  • Jamila JAGANJAC

Abstract

The start-up sector in Romania, particularly in the North-West Development Region (NW), is experiencing rapid growth and driving innovation and economic development. Understanding this sector and its connection to Research and Development (R&D) is vital for regional progress. The NW Region has become a prominent hub for start-up activity in Romania. Examining the start-up sector in these regions is essential as it contributes significantly to economic growth. Start-ups introduce disruptive technologies, create new market opportunities, and promote regional diversification. The impact of the R&D sector on economic growth cannot be underestimated. R&D activities drive innovation, laying the groundwork for the emergence and success of start-ups. Investing in R&D fosters knowledge creation, technological advancements, and intellectual property, which are crucial for entrepreneurial ventures. By understanding the interplay between start-ups and the R&D sector, stakeholders can develop targeted strategies for fostering innovation-driven economic growth. This article aims to provide valuable insights into the start-up sector in Romania's NW Region, its relationship with R&D, and the connection between total expenditure on R&D and economic growth in both Romania and the NW Region.

Suggested Citation

  • Darie GAVRILUT & Daniel BADULESCU & Jamila JAGANJAC, 2023. "The Role Of R&D Sector On Fostering Economic Growth. Insights From Romania," Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 17(1), pages 405-417, November.
    • Handle: RePEc:rom:mancon:v:17:y:2023:i:1:p:405-417
    DOI: 10.24818/IMC/2023/03.02
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