This paper summarises the arguments and counterarguments within the scientific discussion on the effects of R&D investment on the essential components of the economic development such as economic growth, competitiveness, labour market and inequality reduction. The main purpose of the research is to highlight the position of Bulgaria in the world economy concerning R&D development. In the article frame, the authors compared the R&D expenditures dynamics of Bulgaria and the EU28 by the prism of innovations in business and higher education. Systematisation literary sources and approaches for solving the problem indicated that R&D caused the changes in the job market that led to the necessity to adjust the university system. There is currently a lag. Methodological tools of this research were as follows: the method of processing quantitative data, content and comparative analyses, situational and sectoral analyses, and graphical dynamic analysis. The object of research is the dynamics of investments in innovations in Bulgaria and EU28. The emphasis is placed on the role of research centres, enterprises, clusters and education institutions in R&D development to assess the level of innovation achieved through R&D. The obtained results of an empirical analysis showed that the cluster approach raised R&D to a new level and helped to bring universities and business together. Rethinking of the public policies and investing in technology centres will help for the adaptation to the new realities of the labour market. The research results could be useful for employers, high tech research centres and universities. This study is expected to be the base for further studies dedicated to boosting economic competitiveness and social welfare due to the promoting implementation of innovations. Keywords competitiveness, economic growth, inequality, innovation, labour market, Research and development (R&D).
Over the last two decades, economic relations have been marked by fundamental changes. Globalization, the fourth technological revolution, the global economic crisis of 2008 are only part of the challenges facing each national economy. Methods have been used to illustrate the dynamics of the time series by major economic indicators through graphical and tabular visualization tools. Cross-correlation analysis using statistical software is applied to investigate the relationship and the relationship between the indicators used. The survey was conducted in the context of Bulgaria and the EU28 over a ten-year period by economic sectors and demographic groups. In certain sectors, an increase or decrease in the overall trend during the study period is observed. The nature of jobs in terms of sectoral employment is clearly changing from primary and secondary to tertiary. There is a clear significant link between investment in innovation and lifelong learning on economic growth and the dynamics of the labor market. In today's rethinking economic doctrines, the need to redefine economic policies is crucial in order to find the right path to manage the economic system through innovation, to enhance wealth through sustainable economic growth and an efficient labor market.
This article analyzes the labor market policies in Bulgaria. Using labor market indicators, the article aims to measure policies efficiency. Using the method of comparison, between labor market policies in Bulgaria and the other EU member countries, the article reveals the negative condition of public labor expenditures and labor market efficiency.
The globalization reveals a number of socio-economic perspectives and challenges to the countries. The technological progress and innovation are essential elements of the globalization leaving their indisputable mark on the economic system. Because of this fact, the main objective of this study is to evaluate the effects of the innovation on the economic growth and the labor market (in particular on employment and the dynamics and nature of job positions) and to analyze the social and fiscal state policies. The research methodology includes time series analysis through descriptive, graphical and cross-correlation analyses by major macroeconomic indicators related to the labor market, economic growth and innovation. The results of the study indicate the changes in the nature of the work/ job positions at sectoral level in Bulgaria and the EU. Innovations demonstrate a significant positive link, both with employment and economic growth, and a negative such with unemployment. Specific features and general trends are reflected in changes in employment, innovation and economic growth in Bulgaria and the EU. This requires a reconsidering of the public policies in the social sphere and the tax policy.
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