R&D Expenditures: comparative analysis between Serbia and selected countries

Kutlača, Đuro and Vasilić, Nikola and Živković, Lazar (2019) R&D Expenditures: comparative analysis between Serbia and selected countries. In: XLVI International Symposium on Operational Research SYM-OP-IS 2019 Kladovo, September 15-18, 2019. Faculty of Organizational Sciences, Belgrade, pp. 259-264. ISBN 978-86-7680-363-7

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Abstract

R&D expenditures are one of the key indicators of the success in innovation process. Successful transformation of R&D expenditures into some form of technological innovation creates a stable basis for sustainable profitability and competitive advantages of the company, which have a positive impact on the growth of the entire economy. Due to the role of R&D expenditures in achieving success at the country and firm level, the subject of research in this paper is a comparative analysis of R&D expenditures between Serbia and selected countries. The aim is to examine the situation in Serbian R&D area in the context of R&D expenditures, in comparison with, first of all, the countries from the environments of the Serbia, which are the EU members. The survey coveres the period 2008 – 2016. Results show that Serbia has a significantly higher GERD (%GDP) than all countries, except Slovenia and Hungary, while Croatia has insignificantly higher GERD then Serbia. All countries from the Serbian environment that are members of the EU have significantly higher BERD (%GDP) than Serbia, except Romania, which has insignificantly higher BERD than Serbia.

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