Sustainable Development Disparities in the EU-27 Based on R&D and Innovation Factors
Ever since it was adopted in 2015 by the United Nations, the 2030 Agenda for Sustainable Development has acted as the main guideline for European Union Member States in regard to achieving economic prosperity, environmental sustainability and peaceful, inclusive and innovative societies. However,...
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| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Editura ASE
2021-11-01
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| Series: | Amfiteatru Economic |
| Subjects: | |
| Online Access: | https://www.amfiteatrueconomic.ro/temp/Article_3050.pdf |
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| Summary: | Ever since it was adopted in 2015 by the United Nations, the 2030 Agenda for Sustainable
Development has acted as the main guideline for European Union Member States in regard
to achieving economic prosperity, environmental sustainability and peaceful, inclusive and
innovative societies. However, in the race for sustainable development, some European
Union Member States are ahead of the others – not only as far as meeting the Sustainable
Development Goals is concerned, but from the perspective of the R&D and innovation
factors as well. In this context, the objective of this research was to explore sustainable
development disparities between the EU-27 Members, based on the previously mentioned
factors. A cross-sectional multiple linear regression model was constructed to facilitate an
in-depth look at the observations. The econometric analysis was carried out based on the
Global SDG Index, the Global Innovation Index and on the percentage of the GDP
allocated to R&D activities. Although the transition to the sustainable development model
requires modern and disruptive approaches at country level, the literature is not rich on
papers fully covering the nature of the existing links between the variables analyzed in the
proposed econometric model. Results show that countries from Northern and Westeren
Europe are leading the change to a more innovative and sustainable path for the European
Union. This implies the responsibility of high levels of R&D expenditure. Although no
European country is on track on meeting the Sustainable Development Goals, Central and
Eastern European Countries have made a lot of catching up to the Northwestern European
leaders. The results of this research help decision-makers improve their strategies by
understanding the impact of R&D and innovation factors on meeting sustainable
development throughout EU-27 at an equitable pace for all European members. |
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| ISSN: | 1582-9146 2247-9104 |