Is there a relationship between economic welfare and innovation performance? Evidence from selected European countries
Investigating economic welfare and innovation performance have been the main themes of dominant researchers in the area of economics. Despite the fact the imperfection of Gross Domestic Product to evaluate welfare is generally acknowledged in economic theory, it is still applicated as one of the cru...
| Main Author: | |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
General Association of Economists from Romania
2020-12-01
|
| Series: | Theoretical and Applied Economics |
| Subjects: | |
| Online Access: |
http://store.ectap.ro/articole/1499.pdf
|
| Summary: | Investigating economic welfare and innovation performance have been the main themes
of dominant researchers in the area of economics. Despite the fact the imperfection of Gross
Domestic Product to evaluate welfare is generally acknowledged in economic theory, it is still
applicated as one of the crucial indicators for creation of economic policy directions. Interest
related to the constraints of GDP have increased to the several attempts in the past decennium to
create aggregate economic welfare indicators as substitutes or augmentations to the GDP. A
number of challenging indicators have been created, although GDP remaines to be applicated as
the traditional indicator of economic welfare. The outstanding of these prominent economic
welfare indicators are: the Genuine Progress Indicator, the Index of Sustainable Economic
Welfare, the Human Development Index and the Better Life Indicator. This paper’s main goal is to
determine relationship between the prominent indicators of economic welfare and innovation
performance in selected European countries. In order to examine the intercorrelations between
economic welfare indicators and innovation performance several methodologies have been
applicated. Research was conducted via statistical software package SPSS 25. The research
results have indicated that the relationship between indicators of economic welfare in selected
European countries are significantly associated with their innovation performance. |
|---|---|
| ISSN: | 1841-8678 1844-0029 |