Proceedings of the 8th International Conference on Research in Business, Management and Economics
Year: 2024
DOI:
[PDF]
Research and Development in the Slovak Republic
Dr. Paulína Mihaľová, Valeriia Maljar
ABSTRACT:
Research, development, and innovation have become the leading engines of progress in the modern world. The Slovak Republic is in the fourth place of the most open countries in the European Union, and the ninth most open country in the world. The small size and high level of openness make the economy vulnerable and dependent on international trade, its trends, and fluctuations. For economic prosperity and sustainability of competitiveness in international trade, in the case of a small economy such as Slovakia, it is inevitable to search for answers to how to stay gainful and increase its value added. The sector of research and development (R&D) in Slovakia has been long-term underfunded. The article offers an overview of the current state of the problem, with a comparative analysis of the data of the Visegrad Group countries. Financing of the research and development sector, the number of employees in R&D, and the number of patents approved in the countries during the last ten years were chosen as indicators of the state of the sector. The up-to-date governmental reforms and policies, that were implemented to improve the financing of research and development and the participation of the private sector in R&D activities were described, with the evaluation of their consequences for the development of the field.
keywords: government; innovation; upgrading; value-added; Visegrad Group