
<ns0:uwmetadata xmlns:ns0="http://phaidra.univie.ac.at/XML/metadata/V1.0" xmlns:ns1="http://phaidra.univie.ac.at/XML/metadata/lom/V1.0" xmlns:ns10="http://phaidra.univie.ac.at/XML/metadata/provenience/V1.0" xmlns:ns11="http://phaidra.univie.ac.at/XML/metadata/provenience/V1.0/entity" xmlns:ns12="http://phaidra.univie.ac.at/XML/metadata/digitalbook/V1.0" xmlns:ns13="http://phaidra.univie.ac.at/XML/metadata/etheses/V1.0" xmlns:ns2="http://phaidra.univie.ac.at/XML/metadata/extended/V1.0" xmlns:ns3="http://phaidra.univie.ac.at/XML/metadata/lom/V1.0/entity" xmlns:ns4="http://phaidra.univie.ac.at/XML/metadata/lom/V1.0/requirement" xmlns:ns5="http://phaidra.univie.ac.at/XML/metadata/lom/V1.0/educational" xmlns:ns6="http://phaidra.univie.ac.at/XML/metadata/lom/V1.0/annotation" xmlns:ns7="http://phaidra.univie.ac.at/XML/metadata/lom/V1.0/classification" xmlns:ns8="http://phaidra.univie.ac.at/XML/metadata/lom/V1.0/organization" xmlns:ns9="http://phaidra.univie.ac.at/XML/metadata/histkult/V1.0">
  <ns1:general>
    <ns1:identifier>o:28764</ns1:identifier>
    <ns1:title language="en">The Impact of Institutional Features on R&amp;D in Business Enterprise Sector and Sustainable Growth</ns1:title>
    <ns1:language>en</ns1:language>
    <ns1:description language="en">Abstract: The main goal of our study is to theoretically and empirically contribute to the analysis of relation between institutional features and R&amp;D in business enterprise sector and consequently on
sustainable economic growth. We exploited the available measures
of institutional quality from World Government Indicators of World
Bank and data on R&amp;D in business enterprise sector. We employed
First-Differencing GMM method to estimate the model on the bal-
anced panel data including the following European countries: Bulgaria, Croatia, the Czech Republic, Hungary, Poland, Romania, Serbia and the Slovak Republic, for the time span of 2007-2017. The institutional features are statistically significant factor of R&amp;D in business enterprise sector. We found that Government effectiveness and
Control of corruption in particular are very important in supporting
the R&amp;D. These measures of institutional quality are key institution-
al determinants of R&amp;D in business enterprise sector. R&amp;D in business enterprise sector is one of the crucial parts of the overall R&amp;D,
and therefore policymakers have to develop favourable conditions
for those activities in private firms. Institutional features should be
an important variable in explanation of R&amp;D intensity. The presented analysis empirically contributes to the body of knowledge on determinants of R&amp;D for European countries that have to develop their
institutions further in order to grow sustainably. This study is using
contemporary methods for testing the underlying problem.</ns1:description>
    <ns1:keyword language="en">Keywords: R&amp;D in business enterprise sector, institutions, sustain- able growth, government effectiveness, control of corruption</ns1:keyword>
    <ns2:identifiers>
      <ns2:resource>1552099</ns2:resource>
      <ns2:identifier>10.2478/jcbtp-2020-0036</ns2:identifier>
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    <ns2:identifiers>
      <ns2:resource>1552101</ns2:resource>
      <ns2:identifier>1800-9581</ns2:identifier>
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  <ns1:lifecycle>
    <ns1:upload_date>2023-04-11T11:57:20.738Z</ns1:upload_date>
    <ns1:status>44</ns1:status>
    <ns2:peer_reviewed>no</ns2:peer_reviewed>
    <ns1:contribute seq="0">
      <ns1:role>46</ns1:role>
      <ns1:entity seq="0">
        <ns3:firstname>Milutin</ns3:firstname>
        <ns3:lastname>Ješić</ns3:lastname>
        <ns3:institution>Univerzitet u Beogradu Ekonomski fakultet</ns3:institution>
        <ns3:conor>36251495</ns3:conor>
        <ns3:orcid>0000-0002-0715-3064</ns3:orcid>
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        <ns3:firstname>Miomir</ns3:firstname>
        <ns3:lastname>Jakšić</ns3:lastname>
        <ns3:institution>Univerzitet u Beogradu Ekonomski fakultet</ns3:institution>
        <ns3:type>person</ns3:type>
        <ns3:conor>12418919</ns3:conor>
        <ns3:orcid>0000-0003-0869-9648</ns3:orcid>
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  <ns1:technical>
    <ns1:format>application/pdf</ns1:format>
    <ns1:size>1233963</ns1:size>
    <ns1:location>https://phaidrabg.bg.ac.rs/o:28764</ns1:location>
  </ns1:technical>
  <ns1:rights>
    <ns1:cost>no</ns1:cost>
    <ns1:copyright>yes</ns1:copyright>
    <ns1:license>16</ns1:license>
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  <ns1:classification>
    <ns1:purpose>70</ns1:purpose>
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  <ns1:organization>
    <ns8:hoschtyp>92000001</ns8:hoschtyp>
    <ns8:orgassignment>
      <ns8:faculty>11A03</ns8:faculty>
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  <ns12:digitalbook>
    <ns12:name_magazine language="sr">Journal of Central Banking Theory and Practice</ns12:name_magazine>
    <ns12:volume>9</ns12:volume>
    <ns12:booklet>3</ns12:booklet>
    <ns12:from_page>61</ns12:from_page>
    <ns12:to_page>76</ns12:to_page>
    <ns12:releaseyear>2020</ns12:releaseyear>
  </ns12:digitalbook>
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