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Beyond Brexit’s uncertainty: the foreseeable Britain’s innovative stagnation

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The purpose of this paper is to explore the causes that determine the UK’s civilian research and development (R&D) expenditure to forecast its possible evolution in a post-Brexit scenario.,The authors… Click to show full abstract

The purpose of this paper is to explore the causes that determine the UK’s civilian research and development (R&D) expenditure to forecast its possible evolution in a post-Brexit scenario.,The authors use the Johansen’s co-integration analysis for time series.,The authors find a co-integration relationship between R&D and variables such as exports, military expenditure, patents, EU GDP per capita and USA GDP per capita. The authors also observed a stagnation in the foreseen R&D expenditure over the next five years.,The authors warned that the results can only be viewed as a glance into the understanding of the complex elements that undergird the UK’s civilian, scientific and technological policy-making. But the authors see them as an interesting starting point for scrutinizing current shortcomings in policy-making, while providing clues for corrective action that would otherwise lead the UK to a structural crisis in its economic performance.,This study constitutes a first attempt to account for the loss of the UK’s innovative influence all over the world.

Keywords: stagnation; beyond brexit; britain innovative; foreseeable britain; brexit uncertainty; uncertainty foreseeable

Journal Title: Journal of Economic Studies
Year Published: 2018

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