Open AccessThe Role of Expenditure on Research and Development (R&D) in Promoting Economic Growth and Competitiveness
Author(s) -
Sandra Jēkabsone,
Ilze Sproģe,
Solvita Kristone
Publication year - 2021
Publication title -
humanities and social sciences. latvia
Language(s) - English
Resource type - Journals
eISSN - 2592-947X
pISSN - 1022-4483
DOI - 10.22364/hssl.29.1.04
Subject(s) - latvian , public fund , investment (military) , finance , business , sustainability , research development , sustainable development , economics , economic policy , economic growth , public economics , political science , ecology , paleontology , philosophy , linguistics , test (biology) , politics , law , biology
Development of science and research is fundamental for economic growth, as well as the competitiveness of a country. Taking into account the potential decrease of EU funds financing and the limited amount of Latvian national financing, it is necessary to ensure that the efficiency of the use of financing is maintained and raised further. The aim of the study is to evaluate the impact of the EU funds funding activities of 2007–2013 and 2014–2020 on science, research and innovation support activities of Latvian research institutions, as well as the sustainability of the results obtained within the support activities, taking into account the measures planned to support research, development and innovation during the programming period of EU funds 2021–2027. The results of the research show that expenditure in research and development (R&D) in Latvia is small and dependent on European Structural Funds (currently R&D investments are mainly attracted by EU funds), which is not a sustainable solution for R&D development, considering that this financing and its availability are periodic and in the future. This requires consistent long-term public and private (business) R&D investment.