FUNDING STRUCTURE OF THE EUROPEAN AND NORTH AMERICAN CLUSTERS: RESULTS FROM AN INDEPENDENT QUESTIONNAIRE

• Authors: Burger Peter , Baumöhl Eduard , Výrostová Eva
• Languages of publication: EN

Abstracts

EN

We use a unique dataset of 167 North American and European clusters’ funding structures, obtained from an independent questionnaire survey carried out in the first half of 2016. The aim of this study is to determine possible differences in the proportions of public and private funds in the financing clusters from these two regions. Our results show that there is not a statistically significant difference in public-to-private funding sources among the European vs. American clusters. The proportion of public-to-private sources is on average approximately 43:57 in both regions. However, overall private sources of financing are significantly higher than funds obtained from public sources when we compare average values without respect to geographical regions. Furthermore, using a seemingly unrelated regression model, we identify dominant sources of public funding – in the European clusters dominate European Union budgets (24.29%), and for American clusters, the more prevailing sources are national (26.25%) and local budgets (10%).

Keywords

EN

CLUSTERS; FUNDING; PUBLIC SOURCES; PRIVATE SOURCES; FINANCIAL STRUCTURE; NORTH AMERICA; EUROPE

• Publisher: Institute of Slovak and World Economics and Institute for Forecasting, Slovak Academy of Sciences
• Journal: Ekonomický časopis (Journal of Economics)
• Year: 2017
• Volume: 65
• Issue: 6
• Pages: 485 – 504

Contributors

author

Burger Peter

• Technical University of Košice, Faculty of Economics, Department of Regional Sciences and Management, Němcovej 32, 040 01 Košice, Slovak Republic

author

Baumöhl Eduard

author

Výrostová Eva