Innovation as imperative for increasing productivity and economic growth: The case of the selected EU member countries and non-EU member countries
In the changeable environment of increasingly powerful and multiplex competition, it becomes one of the key preconditions for an appropriate reaction to worldwide challenges. The productivity and economic growth have to be recognized as a multi-dimensional mechanism containing various interlinked co...
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| Format: | Article |
| Language: | English |
| Published: |
General Association of Economists from Romania
2019-09-01
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| Series: | Theoretical and Applied Economics |
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| Online Access: |
http://store.ectap.ro/articole/1407.pdf
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| Summary: | In the changeable environment of increasingly powerful and multiplex competition, it
becomes one of the key preconditions for an appropriate reaction to worldwide challenges. The
productivity and economic growth have to be recognized as a multi-dimensional mechanism
containing various interlinked components accomplished through investments in innovation. The
purpose of this paper is to explore the link between the components of innovation, productivity and
economic growth in selected EU- member countries and non-EU member countries. The research
results have shown that the productivity and economic growth in selected countries are significantly
linked with their innovation rank. The innovation capability indicators measured by the innovation
indices can be beneficial in comparative analysis between countries, and provide valuable
information for countries to identify their own strengths and weaknesses, compare themselves with
similar countries, and create consensus about fields of future actions. |
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| ISSN: | 1841-8678 1844-0029 |