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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| Language: | English |
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THOT Publishing House
2024-11-01
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| Series: | Journal of Research and Innovation for Sustainable Society |
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| 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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| _version_ | 1841555949821624320 |
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| author | Mugur Victor Constantin Iureș |
| author_facet | Mugur Victor Constantin Iureș |
| author_sort | Mugur Victor Constantin Iureș |
| collection | DOAJ |
| description | 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. |
| format | Article |
| id | doaj-art-0e58d7b84caa446c940bc5d50da0aadf |
| institution | Kabale University |
| issn | 2668-0416 |
| language | English |
| publishDate | 2024-11-01 |
| publisher | THOT Publishing House |
| record_format | Article |
| series | Journal of Research and Innovation for Sustainable Society |
| spelling | doaj-art-0e58d7b84caa446c940bc5d50da0aadf2025-01-07T16:18:19ZengTHOT Publishing HouseJournal of Research and Innovation for Sustainable Society2668-04162024-11-016230431210.33727/JRISS.2024.2.33:304-312Assessing the Role of Private Investment in R&D on Bioeconomy Growth: A Decade-Long Analysis Across the European Union CountriesMugur Victor Constantin Iureș0University of CraiovaIn 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.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.pdfbioeconomyr&d investmentsbiomass consumptionbiomass transformationsustainable growtheu member statesinnovation in bioeconomyintellectual capitaleconomic performancerenewable resources |
| spellingShingle | Mugur Victor Constantin Iureș Assessing the Role of Private Investment in R&D on Bioeconomy Growth: A Decade-Long Analysis Across the European Union Countries Journal of Research and Innovation for Sustainable Society bioeconomy r&d investments biomass consumption biomass transformation sustainable growth eu member states innovation in bioeconomy intellectual capital economic performance renewable resources |
| title | Assessing the Role of Private Investment in R&D on Bioeconomy Growth: A Decade-Long Analysis Across the European Union Countries |
| title_full | Assessing the Role of Private Investment in R&D on Bioeconomy Growth: A Decade-Long Analysis Across the European Union Countries |
| title_fullStr | Assessing the Role of Private Investment in R&D on Bioeconomy Growth: A Decade-Long Analysis Across the European Union Countries |
| title_full_unstemmed | Assessing the Role of Private Investment in R&D on Bioeconomy Growth: A Decade-Long Analysis Across the European Union Countries |
| title_short | Assessing the Role of Private Investment in R&D on Bioeconomy Growth: A Decade-Long Analysis Across the European Union Countries |
| title_sort | assessing the role of private investment in r d on bioeconomy growth a decade long analysis across the european union countries |
| topic | bioeconomy r&d investments biomass consumption biomass transformation sustainable growth eu member states innovation in bioeconomy intellectual capital economic performance renewable resources |
| url | 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 |
| work_keys_str_mv | AT mugurvictorconstantiniures assessingtheroleofprivateinvestmentinrdonbioeconomygrowthadecadelonganalysisacrosstheeuropeanunioncountries |