Abstract

Considering the economic performance as a target for companies in chemical and pharmaceutical sectors, the main aim of this paper is to assess the impact of investment and research expenditure on the turnover and production of the Romanian firms in these domains. A panel data approach is applied and the main results suggested that actual and previous investment did not generate an increase in the production and turnover of the companies in the period 2005-2016. However, the increase in the number of researchers and in the research expenditure slowly stimulated the production and turnover. All in all, we can state that the investment in chemical and pharmaceutical sectors are still not sustainable in Romania and the future policies of the companies should be focus more on research and development activities.

Highlights

  • Considering the economic performance as a target for companies in chemical and pharmaceutical sectors, the main aim of this paper is to assess the impact of investment and research expenditure on the turnover and production of the Romanian firms in these domains

  • The chemical industry in Romania is the industry with the highest commercial deficit

  • This paper brings as novelty a statistical evaluation of the impact of investment and research and development (R&D) activities on the chemistry and pharmaceutical sectors in Romania

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Summary

Introduction

Considering the economic performance as a target for companies in chemical and pharmaceutical sectors, the main aim of this paper is to assess the impact of investment and research expenditure on the turnover and production of the Romanian firms in these domains. We can state that the investment in chemical and pharmaceutical sectors are still not sustainable in Romania and the future policies of the companies should be focus more on research and development activities. The chemical industr y used petroleum as primary feedstock. The advance in research will determine in the century a progressive transition from petroleum to materials, chemicals, and liquid fuels as the primary feedstock. The investments in chemical plants in the LDCs increase with the number of technology suppliers from developed countries [5]

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