IDEAS home Printed from https://ideas.repec.org/a/ids/ijbglo/v22y2019i4p716-728.html
   My bibliography  Save this article

The role of innovations in fostering economic growth: an empirical analysis for selected CEE countries

Author

Listed:
  • Darko Lazarov
  • Goce Petreski

Abstract

The main aim of the paper is to investigate whether the innovation performance is a driving force to economic growth in selected CEE countries. To fulfil this goal, we use dynamic panel regression approach (system GMM), for the period 2002-2014. The innovation performance is derivate from several indicators (general expenditure on R%D, number of patents, journal articles and scientific publications, as well as royalty payments) by using principle component factor analysis. The estimated results suggest that innovation performance has positive and significant influence on economic growth, indicating that those countries with more efficient innovation system have experienced higher economic growth. Moreover, the paper found the higher magnitude in the impact of innovation performance on economic growth in new EU member state economies, compare to less developed non-EU countries. This indicates that innovations become more important growth determent how the countries are catching-up to developed countries.

Suggested Citation

  • Darko Lazarov & Goce Petreski, 2019. "The role of innovations in fostering economic growth: an empirical analysis for selected CEE countries," International Journal of Business and Globalisation, Inderscience Enterprises Ltd, vol. 22(4), pages 716-728.
    • Handle: RePEc:ids:ijbglo:v:22:y:2019:i:4:p:716-728
    as

    Download full text from publisher

    File URL: http://www.inderscience.com/link.php?id=100252
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ids:ijbglo:v:22:y:2019:i:4:p:716-728. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sarah Parker (email available below). General contact details of provider: http://www.inderscience.com/browse/index.php?journalID=245 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.