A statistical analysis of the expenditures on research and development and the increase of Gross Domestic Product: an sensible way for easing the effects of greek economic crisis

Main Author: Kyritsis, Constantinos
Other Authors: Frangos, Christos C.
Sotiropoulos, Ioannis
Fragkos, Konstantinos C
Chaniotis, Stavros
Format: Paper
Language: English
Published: 2016
Online Access: http://cris.teiep.gr/jspui/handle/123456789/1561
Conference: 5th International Conference on Research in Humanities, Sociology and Education (RHSCE’16) Nov. 29-30, 2016 London (UK)
Physical Description: p.p.3
ISBN: ISBN 978-93-84468-81-1
Abstract: In this paper, we introduce the Global Competitiveness Index(GCI) which is based on the Gross Domestic Expenses for Research and Development and Innovation and we derive two Linear Statistical Models which show the positive influence of the GCI on the Gross Domestic Product(GDP). Hence, the reduction of GCI results on the reduction of the GDP. We construct,also a quadratic Regression model in the variables, showing that the reduction of GDP resulted in the increase of Income Inequality ,in the case of Greece during the economic crisis 2009-2016. We, also, present facts which justify the opinion that the unemployment in Greece, today, is a by-product of austerity and the austerity is a product of the Memorandum of Understanding (MOU) between Greece and the European Union(EU), the European Central Bank(ECB) and the International Monetary Fund (IMF) . The MOU is , in turn, the result of the excessive debt, the tax evasion, the clientist State and the lack of competitiveness of the Greek Economy