Assessing the Role of Private Investment in R&D on Bioeconomy Growth: A Decade-Long Analysis Across the European Union Countries
In recent years, the bioeconomy has become a significant force driving sustainable growth within the European Union (EU), seamlessly integrating the use of biological resources with economic development and innovation. This study examines how private sector research and development (R&D) inv...
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| Main Author: | |
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| Format: | Article |
| Language: | English |
| Published: |
THOT Publishing House
2024-11-01
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| Series: | Journal of Research and Innovation for Sustainable Society |
| Subjects: | |
| Online Access: | https://jriss.4ader.ro/wp-content/uploads/2024/11/33.-Mugur-Victor-Constantin-Iures-Assessing-the-Role-of-Private-Investment-in-RD-on-Bioeconomy-Growth-A-Decade-Long-Analysis-Across-the-European-Union-Countries.pdf |
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| Summary: | In recent years, the bioeconomy has become a significant force driving
sustainable growth within the European Union (EU), seamlessly integrating the
use of biological resources with economic development and innovation. This
study examines how private sector research and development (R&D)
investments influence growth in the EU's bioeconomy, focusing on key factors
such as value added, biomass consumption, and biomass transformation. By
employing Ordinary Least Squares (OLS) regression models on a dataset
spanning a decade and covering EU member states, the analysis reveals that
R&D investments substantially contribute to economic performance, positively
affecting both value added and biomass consumption. However, the research
also points out inefficiencies in biomass transformation technologies that
currently diminish their economic impact. These findings highlight the crucial
importance of ongoing R&D investment to spur innovation and enhance the
sustainability of the bioeconomy. The study concludes by emphasizing the need
for targeted policies that support technological advancements in biomass
transformation, balanced regulatory frameworks for biomass consumption, and
increased collaboration between public and private sectors to foster innovation
in bio-based industries. |
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| ISSN: | 2668-0416 |