Does public R&amp;D expenditure matter for economic growth?

Szarowská, Irena

doi:10.14254/2071-8330.2017/10-2/6

Cited by 26 publications

(17 citation statements)

References 29 publications

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“…Enhancing the potential of the economy (a larger proportion of skilled human resources and higher intensity of investment) indicates a positive effect of government borrowing, although in the case of investments, it is only partial. This study confirms that there is a tendency for a combination of direct government funding at the expense of national sources and lending sources, as well as indirect state financing instruments that ultimately serve as an incentive for economic growth (Szarowská, 2017;Yiew & Lau, 2018).…”

Section: Literature Reviewsupporting

confidence: 76%

Economic growth: macroeconomic effects of Public Borrowings at the global level

Buryk

Bashtannyk

Ragimov

2019

Problems and Perspectives in Management

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The study examines the peculiarities of the impact of public debt on the economic growth of states. The aim of the study was to analyze and identify the determinants of the impact of government borrowing on economic growth. The following research methods have been applied: analysis and synthesis of data and theoretical work, comparative analysis, statistical, correlation, cluster and discriminant analysis. According to the results of the survey, it is established that the growth of government borrowing can have both a negative and a positive effect on the economy, provided that it implements as the share of government debt to GDP, does not exceed 60% and is implemented in the form of financial investments (golden rule of public finance). The state’s deficit is allowed provided that state assets grow; current income from investment fully covers current expenses. The results of clusterization allowed to allocate 3 groups of states: states that demonstrated the economic downturn; states characterized by slow economic growth; states that were characterized by high level of economic growth. The first group of states (the countries with economic downturn) observed a negative high level of government debt and GDP. The results showed the low level of domestic borrowing development in low and middle income countries, which in developed countries allows governments to finance the investment projects on the basis of local loans (municipal bonds, infrastructure bonds, mainly medium and long-term), increase the debt burden in terms of economic recession.

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Section: Literature Reviewsupporting

confidence: 76%

Economic growth: macroeconomic effects of Public Borrowings at the global level

Buryk

Bashtannyk

Ragimov

2019

Problems and Perspectives in Management

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“…However, relatively few studies focus on how higher education is expanded and utilized [4,5]. According to the literature, some previous studies measure the influence of higher education through research and development (see, [6][7][8]). However, in this study, the relationship between higher education and economic growth is reinvestigated.…”

Section: Introductionmentioning

confidence: 99%

The Impact of Higher Education on Economic Growth in ASEAN-5 Countries

Maneejuk

Yamaka

2021

Sustainability

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This study analyzed the nonlinear impacts of education, particularly higher education, on economic growth in the ASEAN-5 countries (i.e., Thailand, Indonesia, Malaysia, Singapore, and the Philippines) over the period 2000–2018. The impacts of education on economic growth are assessed through various education indicators, consisting of public expenditure on tertiary education per student, enrolment rates of primary, secondary, and tertiary levels, educated workforce, and the novel indicator of unemployment rates with advanced education. This study establishes nonlinear regression models—the time-series kink regression and the panel kink regression—to investigate the kink effects of education on the individual country’s economic growth and the ASEAN-5 region, respectively. There are three main findings. Firstly, the nonlinear effects of the government expenditure per tertiary student on economic growth are confirmed for the ASEAN-5 region. However, the impacts do not follow the law of diminishing returns. Secondly, our findings reveal that an increase in unemployment of advanced educated workers can positively or negatively impact economic growth, which requires an appropriate policy to handle the negative impacts. Lastly, secondary and higher education enrollment rates can contribute to the ASEAN-5’s economic growth (both the individual and regional levels). However, the regional analysis reveals that higher education impacts become twice as strong when the enrollment rates are greater than a certain level (a kink point). Therefore, we may conclude that secondary enrollment rates positively affect economic growth; however, higher education is the key to future growth and sustainability.

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“…While many authors have approached this debate, assessing competitiveness based on its narrow definition (price and cost indicators, market shares, and trade balances), a rising number of scholars have directed their analysis on the non-price factors, emphasizing the key function of the Research & Development, as well as innovation, in driving international competitiveness, export performance and economic advancement of a country (Dunning 2000, Smith 2002 Smith (2002), is a consequence of the fact that we have entered a novel era of smart growth, empowered by the knowledge-driven industries. Accordingly, the economies should ground their growth on human capital and innovation as the key measures of their dominance in the contemporary business environment (Audretsch, et al 2016;Szarowska 2017).…”

Section: Literature Review and Empirical Findingsmentioning

confidence: 99%

Assessing international competitiveness and its role towards the economic prosperity within EU integration framework

Stanojevic¹,

Velickovic²

2021

Management (Split, Online)

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Enhancing competitiveness in the era of globalization has become an essential topic of academic and policy debates for all contemporary economies. The role of a country’s competitiveness has been addressed by many scholars aiming to assess the extent to which this concept is associated with economic prosperity matters, such as social welfare and attracting foreign direct investments. Along with this debate, there has been a growing interest in understanding the linkages between the competitive forces and the gap in economic progress across the EU members, this being one of the main concerns within the EU. Filling this gap and achieving greater convergence among the EU countries has been one of the critical goals in shaping the European structural policy reforms. However, following the empirical findings, there has been little consensus on what are the main sources of a country’s economic progress as addressed through the prism of national competitiveness, particularly if being studied in the context of EU integration. In this context, the study aims to assess the economic performance of the countries that joined the EU first and those that joined last, concerning its linkages with a country’s international competitiveness. The focus is placed on innovation and business sophistication factors’ relative significance and contribution to the economic growth for the observed period (2008-2017). The analysis is based on the World Economic Forum methodology for measuring the Global Competitiveness Index and World Bank database. The research is conducted through comparative analysis, as well as regression analysis aiming to evaluate the relationship between competitiveness and economic development indicators. The findings of the study emphasize a better understanding of the importance of the EU accession date for the country’s overall competitiveness and economic performance, as well as the contribution of R&D innovation and business sophistication, as more advanced competitiveness factors, to economic prosperity and development.

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Does public R&D expenditure matter for economic growth?

Cited by 26 publications

References 29 publications

Economic growth: macroeconomic effects of Public Borrowings at the global level

Economic growth: macroeconomic effects of Public Borrowings at the global level

The Impact of Higher Education on Economic Growth in ASEAN-5 Countries

Assessing international competitiveness and its role towards the economic prosperity within EU integration framework

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