IDEAS home Printed from https://ideas.repec.org/a/spr/gjofsm/v24y2023i2d10.1007_s40171-023-00338-z.html
   My bibliography  Save this article

The Consequences of COVID-19 Disruption on Sustainable Economy in the Top 30 High-Tech Innovative Countries

Author

Listed:
  • Muhammad Ikram

    (Al Akhawayn University in Ifrane)

  • Youssef Sayagh

    (Al Akhawayn University in Ifrane)

Abstract

This study aims to investigate the effects of the COVID-19 pandemic on the innovation index, Gross Domestic Product (GDP), high technology exports, and human development (HDI) in the world's leading 30 high-tech innovative countries. Using grey relational analysis models, the association between COVID-19 and other economic development indices was investigated. The model selects the country least affected by the pandemic from the top 30 innovative countries through a conservative (maximin) method based on grey association values. Data was collected from World Bank databases and analyzed to compare pre- and post-COVID-19 periods (2019, 2020). The outcomes of this study provide essential recommendations for industries and decision-makers with suitable action plans to preserve economic systems from further harm caused by the global COVID-19 outbreak. The ultimate goal is to boost the innovation index, GDP, high-tech exports, and HDI of high-tech economies and pave the way for a sustainable economy. To the author's knowledge, this is the first study to develop a multidimensional framework to assess COVID-19's impact on the sustainable economy of top 30 high-tech innovative countries, and to conduct a comparative analysis to identify the strong and weak effects of COVID-19 on sustainable economic growth.

Suggested Citation

  • Muhammad Ikram & Youssef Sayagh, 2023. "The Consequences of COVID-19 Disruption on Sustainable Economy in the Top 30 High-Tech Innovative Countries," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 24(2), pages 247-269, June.
    • Handle: RePEc:spr:gjofsm:v:24:y:2023:i:2:d:10.1007_s40171-023-00338-z
    DOI: 10.1007/s40171-023-00338-z
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s40171-023-00338-z
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s40171-023-00338-z?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

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

    References listed on IDEAS

    as
    1. Mohammad Rashed Hasan Polas & Valliappan Raju, 2021. "Technology and Entrepreneurial Marketing Decisions During COVID-19," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 22(2), pages 95-112, June.
    2. Prince Asare Vitenu-Sackey & Richard Barfi, 2021. "The Impact of Covid-19 Pandemic on the Global Economy: Emphasis on Poverty Alleviation and Economic Growth," The Economics and Finance Letters, Conscientia Beam, vol. 8(1), pages 32-43.
    3. Zimmerling, Amanda & Chen, Xiongbiao, 2021. "Innovation and possible long-term impact driven by COVID-19: Manufacturing, personal protective equipment and digital technologies," Technology in Society, Elsevier, vol. 65(C).
    4. Rudra P. Pradhan & Mak B. Arvin & Mahendhiran Nair & Sara E. Bennett, 2020. "Sustainable economic growth in the European Union: The role of ICT, venture capital, and innovation," Review of Financial Economics, John Wiley & Sons, vol. 38(1), pages 34-62, January.
    5. Frauke Austermann & Wei Shen & Assen Slim, 2020. "Governmental responses to COVID-19 and its economic impact: a brief Euro-Asian comparison [Les réponses gouvernementales au COVID-19 et son impact économique : une brève comparaison euro-asiatique]," Post-Print hal-03518274, HAL.
    6. Furman, Jeffrey L. & Porter, Michael E. & Stern, Scott, 2002. "The determinants of national innovative capacity," Research Policy, Elsevier, vol. 31(6), pages 899-933, August.
    7. Palash Saha & Subrata Talapatra & H. M. Belal & Victoria Jackson, 2022. "Unleashing the Potential of the TQM and Industry 4.0 to Achieve Sustainability Performance in the Context of a Developing Country," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 23(4), pages 495-513, December.
    8. Zahra, Shaker A., 2021. "International entrepreneurship in the post Covid world," Journal of World Business, Elsevier, vol. 56(1).
    9. Subrata Talapatra & Kutub Uddin & Manuel Doiro & Gilberto Santos, 2022. "The linkage between corporate social responsibility and the main benefits obtained from the integration of multiple management systems in Bangladesh," Social Responsibility Journal, Emerald Group Publishing Limited, vol. 19(1), pages 79-100, April.
    10. Frauke Austermann & Wei Shen & Assen Slim, 2020. "Governmental responses to COVID-19 and its economic impact: a brief Euro-Asian comparison," Asia Europe Journal, Springer, vol. 18(2), pages 211-216, June.
    11. Md. Rayhan Sarker & Md. Abdul Moktadir & Ernesto D. R. Santibanez-Gonzalez, 2021. "Social Sustainability Challenges Towards Flexible Supply Chain Management: Post-COVID-19 Perspective," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 22(2), pages 199-218, December.
    12. Jasper Verschuur & Elco E. Koks & Jim W. Hall, 2021. "Observed impacts of the COVID-19 pandemic on global trade," Nature Human Behaviour, Nature, vol. 5(3), pages 305-307, March.
    13. Brem, Alexander & Viardot, Eric & Nylund, Petra A., 2021. "Implications of the coronavirus (COVID-19) outbreak for innovation: Which technologies will improve our lives?," Technological Forecasting and Social Change, Elsevier, vol. 163(C).
    14. Grossman, Gene M. & Helpman, Elhanan, 1991. "Trade, knowledge spillovers, and growth," European Economic Review, Elsevier, vol. 35(2-3), pages 517-526, April.
    15. Prince Asare Vitenu-Sackey & Richard Barfi, 2021. "The Impact of Covid-19 Pandemic on the Global Economy: Emphasis on Poverty Alleviation and Economic Growth," The Economics and Finance Letters, Conscientia Beam, vol. 8(1), pages 32-43.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Suharti Ishak & Mohd Rizaimy Shaharudin & Nor Azura Mohamed Salim & Amir Imran Zainoddin & Zichun Deng, 2023. "The Effect of Supply Chain Adaptive Strategies During the COVID-19 Pandemic on Firm Performance in Malaysia's Semiconductor Industries," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 24(3), pages 439-458, September.
    2. Bhavya Sharma & Murari Lal Mittal & Gunjan Soni & Bharti Ramtiyal, 2023. "An Implementation Framework for Resiliency Assessment in a Supply Chain," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 24(4), pages 591-614, December.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Nashwan M. A. Saif & Jianping Ruan & Bojan Obrenovic, 2021. "Sustaining Trade during COVID-19 Pandemic: Establishing a Conceptual Model Including COVID-19 Impact," Sustainability, MDPI, vol. 13(10), pages 1-20, May.
    2. Vicente Javier Clemente-Suárez & Stephanie Rodriguez-Besteiro & Juan José Cabello-Eras & Alvaro Bustamante-Sanchez & Eduardo Navarro-Jiménez & Macarena Donoso-Gonzalez & Ana Isabel Beltrán-Velasco & J, 2022. "Sustainable Development Goals in the COVID-19 Pandemic: A Narrative Review," Sustainability, MDPI, vol. 14(13), pages 1-26, June.
    3. Michal Hrivnák & Peter Moritz & Marcela Chreneková, 2021. "What Kept the Boat Afloat? Sustainability of Employment in Knowledge-Intensive Sectors Due to Government Measures during COVID-19 Pandemic," Sustainability, MDPI, vol. 13(15), pages 1-21, July.
    4. Yugang He & Ziqian Zhang, 2022. "Energy and Economic Effects of the COVID-19 Pandemic: Evidence from OECD Countries," Sustainability, MDPI, vol. 14(19), pages 1-13, September.
    5. Muhammad Azmat Hayat & Huma Ghulam & Maryam Batool & Muhammad Zahid Naeem & Abdullah Ejaz & Cristi Spulbar & Ramona Birau, 2021. "Investigating the Causal Linkages among Inflation, Interest Rate, and Economic Growth in Pakistan under the Influence of COVID-19 Pandemic: A Wavelet Transformation Approach," JRFM, MDPI, vol. 14(6), pages 1-22, June.
    6. repec:kqi:journl:2018-2-1-3 is not listed on IDEAS
    7. Romeo-Victor Ionescu & Monica Laura Zlati & Valentin Marian Antohi, 2021. "Global Challenges vs. the Need for Regional Performance Models under the Present Pandemic Crisis," IJERPH, MDPI, vol. 18(19), pages 1-30, September.
    8. Wang, Xueqin & Wong, Yiik Diew & Sun, Shanshan & Yuen, Kum Fai, 2022. "An investigation of self-service technology usage during the COVID-19 pandemic: The changing perceptions of ‘self’ and technologies," Technology in Society, Elsevier, vol. 70(C).
    9. Muhammad Murtaza & Muhammad Ayyoub & Aisha Riaz & Riaz Ahmed, 2023. "Examining Linkages between Poverty Alleviation and Macroeconomic Performance in Pakistan," Journal of Policy Research (JPR), Research Foundation for Humanity (RFH), vol. 9(2), pages 665-678.
    10. López, Santiago M. & Molero, José & Santos-Arteaga, Francisco J., 2011. "Poverty traps in a frictionless world: The effects of learning and technology assimilation," Structural Change and Economic Dynamics, Elsevier, vol. 22(2), pages 106-115, June.
    11. Iuliia Pinkovetskaia & Diego Felipe Arbelaez Campillo & Magda Julissa Rojas Bahamon, 2022. "Households income in 2021: influence of Covid-19 pandemic," Revista Finanzas y Politica Economica, Universidad Católica de Colombia, vol. 14(2), pages 541-559, June.
    12. Baira Faulks & Song Yinghua, 2021. "The COVID-19 Crisis: Implications for the Development and Growth of Agricultural Sector in EU countries and Russia," International Journal of Innovation and Economic Development, Inovatus Services Ltd., vol. 7(1), pages 37-46, April.
    13. Pinkovetskaia Iuliia, 2022. "Impact of Covid-19 pandemic on household income: results of a survey of the economically active population," Studia Universitatis „Vasile Goldis” Arad – Economics Series, Sciendo, vol. 32(1), pages 43-57, March.
    14. Onea Ioana Alexandra, 2022. "Exploring the COVID-19 pandemic impact on innovation and entrepreneurship – Review and evidence from Global Innovation Index," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 16(1), pages 527-544, August.
    15. Xueqin Wang & Yiik Diew Wong & Kum Fai Yuen, 2021. "Does COVID-19 Promote Self-Service Usage among Modern Shoppers? An Exploration of Pandemic-Driven Behavioural Changes in Self-Collection Users," IJERPH, MDPI, vol. 18(16), pages 1-22, August.
    16. Crespo, Nuno Fernandes & Crespo, Cátia Fernandes & Silva, Graça Miranda & Nicola, Maura Bedin, 2023. "Innovation in times of crisis: The relevance of digitalization and early internationalization strategies," Technological Forecasting and Social Change, Elsevier, vol. 188(C).
    17. Lalitpat Aswanuwath & Warut Pannakkong & Jirachai Buddhakulsomsiri & Jessada Karnjana & Van-Nam Huynh, 2023. "An Improved Hybrid Approach for Daily Electricity Peak Demand Forecasting during Disrupted Situations: A Case Study of COVID-19 Impact in Thailand," Energies, MDPI, vol. 17(1), pages 1-31, December.
    18. Wenmin Wu & Chien-Chiang Lee & Wenwu Xing & Shan-Ju Ho, 2021. "The impact of the COVID-19 outbreak on Chinese-listed tourism stocks," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 7(1), pages 1-18, December.
    19. Shankar Gimire & Kul Kapri & Md Rajib-Ur Rahman, 2018. "Imitate or Innovate? FDI, Technology, and Income Levels in Middle Income Countries," Journal of Development Innovations, KarmaQuest International, vol. 2(1), pages 1-13, May.
    20. Stav Rosenzweig, 2017. "The effects of diversified technology and country knowledge on the impact of technological innovation," The Journal of Technology Transfer, Springer, vol. 42(3), pages 564-584, June.
    21. Stek, Pieter E. & van Geenhuizen, Marina S., 2016. "The influence of international research interaction on national innovation performance: A bibliometric approach," Technological Forecasting and Social Change, Elsevier, vol. 110(C), pages 61-70.

    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:spr:gjofsm:v:24:y:2023:i:2:d:10.1007_s40171-023-00338-z. 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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    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.