Region

Constant

Export Value Index

R&D expenditure

(% of GDP)

FDI, Net Inflows

(% of GDP)

Austria

0.5058

0.27

47.28

0.17

(0.013)**

(0.0329)**

(0.0000)*

(0.0086)*

Belgium

42.04

0.72

0.45

3.55

(0.020)**

(0.0130)**

(0.008)*

(0.007)*

Bulgaria

21.63

5.71

0.25

3.85

(0.0800)

(0.046)**

(0.085)

(0.032)**

Denmark

74.82

8.03

10.55

3.67

(0.017)**

(0.19)

(0.0052)*

(0.045)**

Finland

80.67

3.33

4.20

8.26

(0.0004)*

(0.080)

(0.038)**

(0.0075)*

France

15.9

0.66

8.11

3.59

(0.0000)*

(0.067)

(0.0003)*

(0.0001)*

Germany

23.04

0.546

10.23

10.72

(0.0034)*

(0.0064)*

(0.0000)*

(0.000)*

Greece

10.65

0.95

0.22

8.01

(0.0000)*

(0.58)

(0.18)

(0.0056)*

Italy

78.1

2.26

0.025

10.85

(0.0040)*

(0.0039)*

(0.0001)*

(0.0036)*

Lithuania

18.24

2.06

0.04

21.12

(0.0000)*

(0.70)

(0.003)*

(0.0000)**

Norway

98.23

1.06

10.05

5.12

(0.0000)*

(0.060)

(0.002)*

(0.0042)*

Portugal

8.23

1.89

0.24

1.12

(0.0000)*

(0.53)

(0.02)*

(0.42)

Spain

98.23

1.06

7.05

10.25

(0.00)*

(0.53)

(0.002)*

(0.052)**

Sweden

58.38

110.8

11.2

80.63

(0.0000)*

(0.0048)*

(0.0015)*

(0.0000)*

United Kingdom

25.6

40.03

40.73

10.79

(0.0000)*

(0.0008)*

(0.0000)*

(0.021)*