Beyond the “Innovation's Black-Box”: Translating R&D outlays into employment and economic growth
نویسندگان
چکیده
The emergence of the so-called “European Paradox” shows that increasing Governmental R&D Investment is far from being a ‘panacea’ for stagnant growth. Surprisingly, Governmental R&D Employment does not contribute to ‘mass-market’ employment, despite its important role in reducing YouthUnemployment. Despite the negative side-effect of Governmental R&D Employment on economic growth, University R&D Employment appears to have a quite important role in reducing Unemployment, especially Youth-Unemployment, while it also does not have a downside in terms of economic growth. Technological Capacity enhancement is the most effective instrument for reducing YouthUnemployment and is a policy with a quite robust effect regarding sustainable economic development. © 2015 Elsevier Ltd. All rights reserved.
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