The effect of Government Budget appropriations or outlays on research and development on economic growth in Europe Union countries
Journal Title: International Research Journal of Applied and Basic Sciences - Year 2013, Vol 7, Issue 11
Abstract
The study is trying to examine the Effect of Government Budget appropriations or outlays on research and development on economic growth in Europe Union countries. The study is done by using panel data model. The sample used in this study, includes Union Member states (countries) of Europe (EU). Results to the model estimation show that Government Budget appropriations or outlays on research and development have significant and positive effects on economic growth, by using (2010-2002) Europe Union countries datas. In Spending on research and development estimation model has Significant and positive effect on economic growth with a lag(delay) period while the growth of the employed labor force and investments have significant and positive impact on economic growth without delay period. It indicates that spent costs on research and development requires time ,because time is needed to achieve results, In other words, the effect of spending on research and development is time consuming.
Authors and Affiliations
Alireza DaghighiAsli| Assistant Professor in Economics, Islamic Azad University, Central Tehran Branch, Jamshid Pajooyan| Full Professor in Economics, Sarah Sadat Haj Mousavi| M.A. in Economic Development and Planning, Islamic Azad University, Central Tehran Branch, email: sarah.hajmousavi@gmail.com
Keywords
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