Scholarly record
IMPACT OF INNOVATIONS ON REGIONAL DEVELOPMENT
Abstract
An important link between the volume of investment activity and economic growth is represented by the structure of investments implemented into innovations. Innovations are lately widely discussed issue, because without them economy will not be able to compete with foreign production. A lot of money is being spent on innovations in companies but also on the whole national economy. Therefore it is important to determine whether these funds are spent effectively and efficiently. Requirements for efficiency in invested funds in research development and innovations have become a newly implemented mechanism. Funded projects have to address local issues however, at the same time they should have a character of growth effect. Economic growth is getting to the foreground as the increase in competitiveness of municipalities, regions and states has becoe an indispensable determinant of growth. This research has investigated correlation between performance of the research development and innovations and GDP at the national level as well as the level of individual regions in the Czech Republic. The analysis has been performed based on the data collected during 2005-2015 period. Regression analysis and correlation coefficient have been applied in order to determine the dependence between regional gross domestic product and research development and innovations. Expected results of the research determine dependence between the total volume of invested funds in research development and innovations and the regional development characterized by the use of gross domestic product.
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References14
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