Investice do výzkumu a vývoje a ekonomický růst

Abstract

Diploma Thesis deals with the relationship between research and development investment and economic growth in the European Union countries. The aim is evaluation of influence these investments on economic growth in the European Union countries between period 1998 – 2014. For determining the basic assumptions is used a emprirical literature research. Own research method is using a panel regression analysis which precedes descriptive and comparative methods and correlation analysis. Models are based on Romer approach to economic growth. The main variables in equations are total research and development expenditures as a percentage of gross domestic product, patents applications per million inhabitants, physical capital and human capital. It was found that impact of research and development expenditures on economic growth is positive, which is in accordance with stated hypothesis. It was also shown a positive influence of patent applications on economic growth in European Union countries, where it was real gross domestic product per capita above the avarage real gross domestic product per capita in EU-28. Analysis of dynamic panel data GMM using Arellano-Bover, Blundell and Bond estimator confirmed the positive impact of total research and development expenditures and patents applications on economic growth in all EU countries.