期刊名称：Interdisciplinary Description of Complex Systems - scientific journal
印刷版ISSN：1334-4676
出版年度：2021
卷号：19
期号：2
页码：168-188
DOI：10.7906/indecs.19.2.1
语种：English
出版社：Croatian Interdisciplinary Society Provider Homepage: http://indecs.eu
摘要：The article deals with the problems of business innovation and inventions in the EU countries with a focus on the potential effects of business RD expenditure. Since the business is considered an essential sector concerning innovation, business RD expenditure can play a significant role in their creation. However, several obstacles hinder the successful transformation of RD expenditures into invention or innovation. RD expenditures as any other type of business investments are associated with a certain risk. In this case, the risk of failure can be even higher due to their long-term nature and complexity. The article aims at an examination of the short-run and long-run relationship between business RD expenditure, on one hand, an invention, and innovation on the other. To achieve this, the tests of Granger causalities and panel cointegrated regression has been applied on macro-level data. Furthermore, the structure of RD expenditure in EU countries has been also examined. The results suggest a positive correlation between business RD expenditure and innovation activities as well as the positive causal effect of business RD expenditure on patenting in the long run.
