The Link between Human Resources in Science and Technology and Regional Economic Development in the EU

7 Pages Posted: 19 Nov 2018

See all articles by Jan Hunady

Jan Hunady

Faculty of Economics, Matej Bel University in Banska Bystrica, Slovakia

Marta Orviska

Matej Bel University

Peter Pisar

Faculty of Economics, Matej Bel University in Banska Bystrica, Slovakia

Date Written: September 7, 2017

Abstract

Science and technology is seen as the key factor supporting the performance of regional innovation systems. Furthermore, the innovation intensity in the region could be often crucial for regional economic development. Our research aims to examine the potential link between the economic development of the region and the intensity of science and technology activities proxied by the share of employees in science and technology. The analysis is based on panel data for NUTS2 regions of EU member states in the period 2003-2014. We conducted correlation analysis, panel Granger causality tests and regression analysis. Our results suggest the existence of a significant positive correlation between GDP per capita and the share of employees in science and technology. Moreover, the regions with higher intensity of science and technology activities are mostly characterized by relatively low unemployment rates and a higher proportion of residents with a university education.

Keywords: science and technology, regional development, university education, innovation, economic development

JEL Classification: O30, I23, R59

Suggested Citation

Hunady, Jan and Orviska, Marta and Pisar, Peter, The Link between Human Resources in Science and Technology and Regional Economic Development in the EU (September 7, 2017). 2017 ENTRENOVA Conference Proceedings, Available at SSRN: https://ssrn.com/abstract=3282595 or http://dx.doi.org/10.2139/ssrn.3282595

Jan Hunady (Contact Author)

Faculty of Economics, Matej Bel University in Banska Bystrica, Slovakia ( email )

Marta Orviska

Matej Bel University ( email )

Tajovskeho 10
SK 974 01 Banska Bystrica, 97401
Slovakia

Peter Pisar

Faculty of Economics, Matej Bel University in Banska Bystrica, Slovakia ( email )

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