ARTICLE
ABSTRACT
In the article the relationship between the inventive activity of the Visegrad Group industrial enterprises and the research and development outlays is investigated. The analysis is conducted for different levels of technological sophistication (high, medium-high, medium-low, low) and patent applications to the European Patent Office are used as a measure of the inventive activity. The results of uni- and multivariate panel cointegration analysis of the yearly data from 2005 to 2014 point out that the long- -run elasticity of patent applications to R&D outlays is higher, firstly, for high-technology economic activity than for medium-high, and secondly, for research activity within high-technology level financed from own resources, rather than by public funds. It was also found that in the case of medium-low and low technology level, the R&D outlays do not uniquely determine the number of patent applications.
KEYWORDS
innovativeness, patent applications, technology level, R&D outlays
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