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Innovation System in a Global Context: A Panel Approach

In: Contemporary Trends and Challenges in Finance

Author

Listed:
  • Anna Wojewnik-Filipkowska

    (University of Gdańsk)

  • Anna Zamojska

    (University of Gdańsk)

  • Krzysztof Szczepaniak

    (University of Gdańsk)

Abstract

Searching for innovative solutions and investing in technology development determine competitiveness and progress of individual organizations and the entire economy. The research and development (R&D) expenditures are catalyst for innovation and therefore determine economic development which can be measured by the value of gross domestic product. The research is driven by a question how Poland is scored in comparison to other countries in this context, while more generally it aims to contribute to theoretical understanding of innovation role in economy development. Referring to the theory of endogenous growth, the research is driven by following questions: What is the relationship between GDP (gross domestic product) and GERD (gross domestic expenditures on research and development), and between VAI (value-added industry) and GERD? Does an increase in investment of GERD determine the growth of GDP and/or VAI? We studied the relations for selected countries with econometric modelling to set Poland in the global context. The panel data came from the World Bank databases. The results of analysis show generally a positive relationship between GDP and GERD, and between VAI and GERD.

Suggested Citation

  • Anna Wojewnik-Filipkowska & Anna Zamojska & Krzysztof Szczepaniak, 2019. "Innovation System in a Global Context: A Panel Approach," Springer Proceedings in Business and Economics, in: Krzysztof Jajuga & Hermann Locarek-Junge & Lucjan T. Orłowski & Karsten Staehr (ed.), Contemporary Trends and Challenges in Finance, pages 201-214, Springer.
    • Handle: RePEc:spr:prbchp:978-3-030-15581-0_19
    DOI: 10.1007/978-3-030-15581-0_19
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