Seaports are an important factor in regional economies since their operations create positive effects on the economy. The application of new technologies and innovations is important for the successful operation of seaports ; their use reduces costs, facilitates business, increases transparency, and attracts new business entities. This paper analyses the impact of seaports on the growth of regional economies within the endogenous growth theory based on research and development (R&D) for a sample of 107 European Union's (EU) port regions observed over the period from 2005 to 2015. The model was tested by using the two-step generalized method of moments. The results of the research indicate that seaports have a significant impact on the economic growth of the EU port regions, yet it is necessary to consider other factors that affect the growth of regional economies such as investments in R&D and human capital. These factors are often underestimated in relation to investment in transport infrastructure ; therefore, the guidelines for partial diversion of funds might follow such a path.
Investment in research and development (R&D) creates preconditions for the implementation of more advanced and better technologies. It enables the introduction of new products or production processes which can result in higher earnings and potential economic growth. Even though research and development is a catalyst for the genesis of aggregate economic activity, its importance is not widely researched at regional levels. The European Union has defined strategies which view innovation as an essential element in stimulating growth and job creation. The aim of this paper is to establish and measure the impact of investment in R&D on economic growth of port regions. The data used in this research were panel data of the European Union's port regions for NUTS 2 classification for the period from 2005 to 2015. The results of the two-step Generalized Method of Moments (GMM) indicate that investment in R&D has a significant impact on the economic growth of the port regions in European Union. However, in order for innovations to be accepted and implemented, it is also necessary for regions to have specific economic structure which was further analyzed in this paper. Regions with high innovation capacity create greater economic benefits and are considered to grow faster than other regions.
Ulaganje u istraživanje i razvoj stvara preduvjete za primjenu naprednije i bolje tehnologije. Omogućuje uvođenje novih proizvoda ili proizvodnih procesa koji mogu rezultirati većom zaradom i potencijalnim ekonomskim rastom. Istraživanje i razvoj katalizator su za generiranje agregatnih ekonomskih aktivnosti, no njihova važnost nije široko istražena na regionalnoj razini. Europska unija definirala je strategije u kojima se inovacije smatraju bitnim elementom za poticanje rasta i otvaranje novih radnih mjesta. Cilj ovog rada je utvrditi i mjeriti utjecaj ulaganja u istraživanje i razvoj na gospodarski rast lučkih regija. Podaci korišteni u ovom istraživanju su panel podaci lučkih regija Europske unije za klasifikaciju NUTS 2 u razdoblju od 2005. do 2015. Rezultati generalizirane metode momenata (GMM) i njenog procjenitelja u dva koraka pokazuju da ulaganja u istraživanje i razvoj imaju značajan utjecaj na gospodarski rast lučkih regija u Europskoj uniji. Međutim, kako bi se inovacije usvojile i primijenile, također je potrebno da regije imaju određenu ekonomsku strukturu koja je dodatno analizirana u ovom radu. Regije s velikim inovacijskim kapacitetom stvaraju veće ekonomske koristi i smatra se da rastu brže od ostalih regija. ; Investment in research and development (R&D) creates preconditions for the implementation of more advanced and better technologies. It enables the introduction of new products or production processes which can result in higher earnings and potential economic growth. Even though research and development is a catalyst for the genesis of aggregate economic activity, its importance is not widely researched at regional levels. The European Union has defined strategies which view innovation as an essential element in stimulating growth and job creation. The aim of this paper is to establish and measure the impact of investment in R&D on economic growth of port regions. The data used in this research were panel data of the European Union's port regions for NUTS 2 classification for the ...
Ulaganje u istraživanje i razvoj stvara preduvjete za primjenu naprednije i bolje tehnologije. Omogućuje uvođenje novih proizvoda ili proizvodnih procesa koji mogu rezultirati većom zaradom i potencijalnim ekonomskim rastom. Istraživanje i razvoj katalizator su za generiranje agregatnih ekonomskih aktivnosti, no njihova važnost nije široko istražena na regionalnoj razini. Europska unija definirala je strategije u kojima se inovacije smatraju bitnim elementom za poticanje rasta i otvaranje novih radnih mjesta. Cilj ovog rada je utvrditi i mjeriti utjecaj ulaganja u istraživanje i razvoj na gospodarski rast lučkih regija. Podaci korišteni u ovom istraživanju su panel podaci lučkih regija Europske unije za klasifikaciju NUTS 2 u razdoblju od 2005. do 2015. Rezultati generalizirane metode momenata (GMM) i njenog procjenitelja u dva koraka pokazuju da ulaganja u istraživanje i razvoj imaju značajan utjecaj na gospodarski rast lučkih regija u Europskoj uniji. Međutim, kako bi se inovacije usvojile i primijenile, također je potrebno da regije imaju određenu ekonomsku strukturu koja je dodatno analizirana u ovom radu. Regije s velikim inovacijskim kapacitetom stvaraju veće ekonomske koristi i smatra se da rastu brže od ostalih regija. ; Investment in research and development (R&D) creates preconditions for the implementation of more advanced and better technologies. It enables the introduction of new products or production processes which can result in higher earnings and potential economic growth. Even though research and development is a catalyst for the genesis of aggregate economic activity, its importance is not widely researched at regional levels. The European Union has defined strategies which view innovation as an essential element in stimulating growth and job creation. The aim of this paper is to establish and measure the impact of investment in R&D on economic growth of port regions. The data used in this research were panel data of the European Union's port regions for NUTS 2 classification for the period from 2005 to 2015. The results of the two-step Generalized Method of Moments (GMM) indicate that investment in R&D has a significant impact on the economic growth of the port regions in European Union. However, in order for innovations to be accepted and implemented, it is also necessary for regions to have specific economic structure which was further analyzed in this paper. Regions with high innovation capacity create greater economic benefits and are considered to grow faster than other regions.
