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The Impact Of The Research And Development Expenditure On Gdp Growth, Investments And Consumption In The Eu. A

Author

Listed:
  • Roxana Loredana Dan

    (WEST UNIVERSITY OF TIMISOARA)

  • Alexandru Avram

    (WEST UNIVERSITY OF TIMISOARA)

Abstract

In our research we are trying to determine the impact of the evolution of the public expenditure of research and development on the main macroeconomic variables such us GDP growth, consumption and gross fix capital formations taken as investments in the case of the European Union. We have analysed the impact of research and development expenditure by taking into consideration the impulse response functions of a Bayesian VAR model, based on a panel approach. Our results are showing a lasting effect of the R&D expenditures on all the macroeconomic variables taken into consideration. Also, by analysing the variance decomposition we have showed that the influence of the R&D expenditures is significant in accordance with the literature review.

Suggested Citation

  • Roxana Loredana Dan & Alexandru Avram, 2015. "The Impact Of The Research And Development Expenditure On Gdp Growth, Investments And Consumption In The Eu. A," Proceedings of International Academic Conferences 3105361, International Institute of Social and Economic Sciences.
    • Handle: RePEc:sek:iacpro:3105361
    as

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    File URL: https://iises.net/proceedings/20th-international-academic-conference-madrid/table-of-content/detail?cid=31&iid=029&rid=5361
    File Function: First version, 2015
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    More about this item

    Keywords

    public expenditure; research and development; VAR model; impulse function;
    All these keywords.

    JEL classification:

    • H52 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Education

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