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Comparative analysis of innovation performance of European Union countries

Author

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  • Ivan Novak

    (Ekonomski fakultet SveuÄ iliÅ¡ta u Zagrebu)

Abstract

This paper aims to examine the innovation performance of 28 European Union countries. Hypothesis of the paper states there is a significant difference of innovation performance between the old and the new EU members. Furthermore, the role of SMEs regarding innovation capacity may not be the same across EU. Using K-means clustering results indicated Germany, Ireland, France, Luxemburg and Austria as the most innovative countries and Bulgaria, Estonia, Latvia, Hungary, Poland and Slovakia as the least innovative countries. Czech Republic, Croatia, Cyprus, Denmark, Finland, Greece, Italy, Lithuania, Malta, Netherlands, Portugal, Slovenia, Sweden, United Kingdom and Spain were found to have a medium level of innovation performance. Furthermore, United Kingdom surpassed the average innovation level of the cluster for the small sized enterprises. Croatia was below the average level of the cluster regardless of the size of the enterprise. Romania was the outlier with the least innovation. In order to facilitate more innovation these findings may be valuable in creating more country specific recommendations for entrepreneurial policy.

Suggested Citation

  • Ivan Novak, 2020. "Comparative analysis of innovation performance of European Union countries," Notitia - journal for economic, business and social issues, Notitia Ltd., vol. 1(6), pages 1-11, December.
    • Handle: RePEc:noa:journl:y:2020:i:6:p:1-11
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    File URL: http://www.notitia.hr/RePEc/noa/journl/01_2020.pdf
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    References listed on IDEAS

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    1. Dragana Radicic & Geoffrey Pugh & Hugo Hollanders & René Wintjes & Jon Fairburn, 2016. "The impact of innovation support programs on small and medium enterprises innovation in traditional manufacturing industries: An evaluation for seven European Union regions," Environment and Planning C, , vol. 34(8), pages 1425-1452, December.
    2. Kastrinos, Nikos & Weber, K. Matthias, 2020. "Sustainable development goals in the research and innovation policy of the European Union," Technological Forecasting and Social Change, Elsevier, vol. 157(C).
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    More about this item

    Keywords

    cluster analysis; European Union; innovation; SME;
    All these keywords.

    JEL classification:

    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O44 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Environment and Growth
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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