SOURCES OF FUNDING FOR ACTIVITIES IN RESEARCH AND DEVELOPMENT IN THE SELECTED EUROPEN COUNTRIES

One of basic indicators of a country's commitment to technological progress certainly includes the expenditures on research and development (R&D). The investments in R&D, i.e. the investment in research and commercial application of innovations are decisively significant for profitability of an enterprise and economic growth of the countries. In EU19, the total realisation of funding for R&D activities predominant is participation of business sector with 57%, followed by state sector with 21%. Contrary to this, public sector is a key source of funding for R&D activities in the Western Balkan countries, which is one of weaknesses of national innovation systems in these countries.