Economic Growth and R&D: Evidences of the Swedish and Finnish Example

Abstract:     
This paper makes an attempt to measure what expected results in the European Union provide the realisation of the target according to which until 2010 the share of research and development expenditure in GDP will have to be increased to three percent. In Sweden and Finland, this had already been attained in the 1990s. The investigation of their economic development has proven that R&D significantly contributes to the improvement of productivity and competitiveness, but without an adequate economic policy, it does not lead to accelerating economic growth and increasing employment. The realisation of the latter objectives can be expected of a growth-oriented economic policy in which, in the case of countries similar to Sweden and Finland, a very important role is played by exchange rate policy.

Note: Downloadable document is in Hungarian.

Number of Pages in PDF File: 32

Keywords: economic theory, international analyses, comparisons

JEL Classification: B41, O32, O47, O57

working papers series