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Innovation: a path to competitiveness and economic growth. The case of CEE countries

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  • Ioan Radu PETRARIU

    (The Bucharest University of Economic Studies)

  • Robert BUMBAC

    (The Bucharest University of Economic Studies)

  • Radu CIOBANU

    (The Bucharest University of Economic Studies)

Abstract

Innovation is often considered to be a typical activity of the developed countries. If we put behind the leading excellence research institutions and the high educated specialists we can tell that innovation is, in the end, the attempt to create new or improved products or processes. The aim of this study is to show the empirical evidence on the link between innovation and economic growth in the Central and Eastern European countries (CEE). Even if this part of Europe was highly affected by the economic crises, we consider that innovation can be the most important component of long-term economic growth. Our study considers a number of different proxies to measure innovation, such as R&D spending, patenting or the number of researchers as well as firms characteristics and mergers and acquisitions. Our findings are consistent with the existing literature that innovation makes significant contribution to national competitiveness and economic growth and the gap between the Western and Eastern economies can be reduced by investing in innovation.

Suggested Citation

  • Ioan Radu PETRARIU & Robert BUMBAC & Radu CIOBANU, 2013. "Innovation: a path to competitiveness and economic growth. The case of CEE countries," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(5(582)), pages 15-26, May.
    • Handle: RePEc:agr:journl:v:xx:y:2013:i:5(582):p:15-26
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    Cited by:

    1. Lindemanis, Mārtiņš & Loze, Artūrs & Pajuste, Anete, 2022. "The effect of domestic to foreign ownership change on firm performance in Europe," International Review of Financial Analysis, Elsevier, vol. 81(C).
    2. Koketso Phale & Fanglin Li & Isaac Adjei Mensah & Akoto Yaw Omari-Sasu & Mohammed Musah, 2021. "Knowledge-Based Economy Capacity Building for Developing Countries: A Panel Analysis in Southern African Development Community," Sustainability, MDPI, vol. 13(5), pages 1-28, March.
    3. Valentina Diana Rusu & Adina Dornean, 2019. "The Quality of Entrepreneurial Activity and Economic Competitiveness in European Union Countries: A Panel Data Approach," Administrative Sciences, MDPI, vol. 9(2), pages 1-21, April.
    4. Mariia Shkolnykova & Lasse Steffens & Jan Wedemeier, 2022. "Systems of Innovation in Central and Eastern European countries: Path of Economic Transition and Differences in Institutions," Bremen Papers on Economics & Innovation 2209, University of Bremen, Faculty of Business Studies and Economics.
    5. Janusz Myszczyszyn & Irena Lacka & Sylwia Golab & Beata Bedzik & Blazej Supron, 2021. "A Preliminary Analysis of the Relationship between Economic Growth and Selected Innovativeness Indicators on the Example of Four European Union Countries," European Research Studies Journal, European Research Studies Journal, vol. 0(Special 3), pages 402-418.
    6. Nathalia Rios Ballesteros & Thomas Goda, 2017. "Natural resource-seeking FDI inflows and current account deficits in commodity-producing developing economies," Documentos de Trabajo de Valor Público 15298, Universidad EAFIT.
    7. Alvarado, Rafael & Murshed, Muntasir & Cifuentes-Faura, Javier & Işık, Cem & Razib Hossain, Mohammad & Tillaguango, Brayan, 2023. "Nexuses between rent of natural resources, economic complexity, and technological innovation: The roles of GDP, human capital and civil liberties," Resources Policy, Elsevier, vol. 85(PA).
    8. B.G. Jean Jacques Iritié, 2018. "Economic issues of innovation clusters-based industrial policy: a critical overview," Global Business and Economics Review, Inderscience Enterprises Ltd, vol. 20(3), pages 286-307.
    9. Frédéric Lainé & Yannick Fondeur, 2020. "Les canaux de recrutement au prisme de la gestion de l’emploi et de la configuration productive de l’entreprise," Post-Print hal-03890804, HAL.
    10. Marieta Olaru & Vasile Dinu & Timo Keppler & Bogdan Mocan, 2015. "Study on the Open Innovation Practices in Romanian Smes," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 17(Special 9), pages 1129-1129, November.
    11. Raaj Kishore Biswas & Enamul Kabir & Refat Bin Reza Rafi, 2019. "Investment in Research and Development Compared to Military Expenditure: Is Research Worthwhile?," Defence and Peace Economics, Taylor & Francis Journals, vol. 30(7), pages 846-857, November.
    12. Cristina Raluca Popescu & Gheorghe N. Popescu & Veronica Adriana Popescu, 2017. "Assessment of the State of Implementation of Excellence Model Common Assessment Framework (CAF) 2013 by the National Institutes of Research – Development – Innovation in Romania," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 19(44), pages 1-41, February.
    13. Ismail Senturk & Fiaz Ahmad Sulehri & Syeda Mehak Ali, 2022. "Financial Development and Innovation Led-Growth: A Case of Selected Developing Countries," Journal of Policy Research (JPR), Research Foundation for Humanity (RFH), vol. 8(3), pages 81-97, September.
    14. Consuela-Elena POPESCU & Alexandra HOROBET & Georgiana Vrinceanu & Lucian BELASCU, 2021. "Business recovery in the European Union after the global financial crisis: lessons for the Coronavirus pandemic," Eastern Journal of European Studies, Centre for European Studies, Alexandru Ioan Cuza University, vol. 12, pages 231-249, August.
    15. Otilia Georgiana Floroiu, 2020. "Innovation For Growth: Evidence From Cee Eurozone Candidates," Oradea Journal of Business and Economics, University of Oradea, Faculty of Economics, vol. 5(special), pages 124-134, June.
    16. Vissa, Siva Kameswari & Thenmozhi, M., 2022. "What determines mergers and acquisitions in BRICS countries: Liquidity, exchange rate or innovation?," Research in International Business and Finance, Elsevier, vol. 61(C).
    17. Ružić Erik & Benazić Dragan, 2021. "The Impact of Internal Knowledge Sharing on Sales Department’s Innovativeness and New Product Commercialization," Organizacija, Sciendo, vol. 54(2), pages 147-160, May.
    18. Ullah, Sami & Luo, Rundong & Nadeem, Muhammad & Cifuentes-Faura, Javier, 2023. "Advancing sustainable growth and energy transition in the United States through the lens of green energy innovations, natural resources and environmental policy," Resources Policy, Elsevier, vol. 85(PA).
    19. Fanglin LI & Michael APPIAH & Regina Naa Amua DODOO, 2020. "The Effects Of Technology And Labor On Growth In Emerging Countries," Management Research and Practice, Research Centre in Public Administration and Public Services, Bucharest, Romania, vol. 12(2), pages 39-47, June.
    20. Nasrin Rostami & Mohsen Mohammadi Khyareh & Reza Mazhari, 2019. "Competitiveness, Entrepreneurship, And Economic Performance: Evidence From Factor-, Efficiency-, And Innovation-Driven Countries," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 64(221), pages 33-64, April – J.
    21. Margareta C. RUSU, 2013. "Eco-innovation and its Contribution to Sustainable Development and Competitiveness," Network Intelligence Studies, Romanian Foundation for Business Intelligence, Editorial Department, issue 2, pages 127-135, October.
    22. Rahman, Sarli & Suwitho, Suwitho & Oh, Andi & Purwati, Astri Ayu, 2019. "Commercialization of High-Tech Innovations and Economic Growth in The Worldwide Most Innovative Countries," MPRA Paper 97766, University Library of Munich, Germany.
    23. Manzoor Ahmad & Jianghuai Zheng, 2023. "The Cyclical and Nonlinear Impact of R&D and Innovation Activities on Economic Growth in OECD Economies: a New Perspective," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 14(1), pages 544-593, March.

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