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The Innovation Strategy And The Competitive Positions Of Bulgarian Economy

Author

Listed:
  • Rumen GEORGIEV

    (Sofia University ‘St. Kliment Ohridski)

  • Milen VELUSHEV

    (Sofia University ‘St. Kliment Ohridski’)

Abstract

As an EU member state, it has become an imperative for Bulgaria to fit in the economic structure of the European Union. In order to promote economic growth, the Union assigned member-states with the task to identify the advantages which will enable them to specialize in the production of goods and services with high added value. Specialization will thus enable member states to focus their effort on consolidating their comparative advantages by employing as an instrument the innovation paradigm. To respond to this challenge, Bulgaria designed its ‘Innovation Strategy for Smart Specialization’ in 2014. The aim of this research is to identify the extent to which the Strategy reflects the real opportunities for the national economy to increase the value added of its production by introducing innovations in specific technological areas stated in the document. The findings of the research indicate that the Innovation Strategy is not in compliance with the underlying logic of the European Commission or the OECD in terms of identifying the economic activities that have real potential as comparative advantages and core competences and where the fastest and most sustainable growth of value added could be expected through the adoption of innovations.

Suggested Citation

  • Rumen GEORGIEV & Milen VELUSHEV, 2018. "The Innovation Strategy And The Competitive Positions Of Bulgarian Economy," Economics 21, D. A. Tsenov Academy of Economics, Svishtov, Bulgaria, issue 1 Year 20, pages 44-69.
    • Handle: RePEc:dat:econ21:y:2018:i:1:p:44-69
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    File URL: http://hdl.handle.net/10610/3910
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    Citations

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    Cited by:

    1. Rumen Georgiev, 2019. "The relationship between strategic innovation and key competencies in a dynamic competitive environment," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 4, pages 13-26,27-38.
    2. Mohamed Mostafa Ali Albaz, 2019. "The Strategic Role Of Human Resources Planning To Achieve Sustainable Competitive Advantage," Electronic magazine "Dialogue", D. A. Tsenov Academy of Economics, Svishtov, Bulgaria, issue 2 Year 20, pages 1-13.

    More about this item

    Keywords

    innovations; innovation strategy; smart specialization; national competitiveness; comparative advantages; core competences;
    All these keywords.

    JEL classification:

    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • P52 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies

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