This paper focuses on investment in research and development as a factor of labour productivity and economic growth. Our analysis confirms the link between expenditure for research and development (expressed in % of GDP) and labour productivity (expressed in the number of hours worked) based on...

This paper reviews the empirical literature on rates of return on R&D and interprets the economic significance of these estimates using a semi-endogenous growth model with a calibrated knowledge production sector. We analyse how R&D subsidies, a reduction of entry barriers for start-ups and...

Over time, the research has played a key role in the economic development reflected by the GDP growth, the increase of the patents' number, the volume of exports, the economic competitiveness of countries which have invested in research and development.The aim of this paper is to make a study at...