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Analyzing Innovation through Bibliometrics: A Comparative Study of Sustainable Practices in Leading Economies

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  • Ionascu Alina

    (West University of Timisoara, Doctoral School of Economics and Business Administration, Timisoara, Romania)

  • Noja Gratiela Georgiana

    (West University of Timisoara, Faculty of Economics and Business Administration, Timisoara, Romania)

Abstract

This research is initiated by analyzing the post-pandemic period through digitalization and economic growth. In this research, we reopened the topics such as digitalization, sustainable development, and innovation. This research has also brought new sustainable development horizons, particularly in Europe. We are investigating the significance of innovation and research in pursuing sustainable development and digitalization in the social impact of economic innovations. It also examines specific innovative solutions that have positively impacted sustainable development. It marks a new phase with a gradual shift towards a retrospective analysis of COVID-19. For example, Switzerland has implemented a comprehensive recycling program. Federal measures to promote the circular economy are based on the principles of precaution and “polluter pays”, technological progress and innovation, and cooperation with industry under the Law on environmental protection. Sweden has pioneered renewable energy solutions; the country boasts seven municipalities that are 98% fossil-free. The UK has introduced innovative financial instruments to support green investments. This phase assessed how economic recovery and sustainability initiatives were influenced in these nations, considering their advanced level of innovation and ability to implement innovative solutions to post-pandemic challenges. This interest is demonstrated through increased resource allocation and support for initiatives that foster technological progress and sustainability, indicating a clear trend toward integrating innovative solutions into economic strategies. It delves into how these countries have balanced and incorporated these elements in the aftermath of the pandemic, highlighting specific strategies and outcomes in each case of countries. This research, bolstered by bibliometric analysis, underscores the importance of innovation in navigating the complexity of post-pandemic economic recovery and sustainability and compares leading nations. This research thoroughly delves into how countries have balanced and incorporated various elements in the aftermath of the pandemic. It meticulously highlights specific strategies and outcomes in each case, using bibliometric analysis to emphasize the importance of innovation in navigating post-pandemic economic recovery and sustainability. It compares the approaches and achievements of leading nations, providing insights into how innovation has driven their progress during this challenging period. This research looks at the effects of regional crises, such as the European debt post-pandemic destabilization, on economic environments through digitalization and the sustainable economy. For instance, the pandemic led to a significant decline in tourism revenue in Switzerland, a disruption in global supply chains for Sweden, and a decrease in foreign direct investment in the United Kingdom. Thus, following these goals, many beneficial reforms emerged. Our exploration into how innovation and research drive sustainable development and impact society through economic advancements is an ongoing journey. By analyzing the innovation indicator (GII 2023), this study highlights the critical importance of blending innovative research with economic policies to boost resilience and adaptability as the world shifts to a post-pandemic reality. This study spotlights the social dimensions of financial innovation and explores how sustainable practices can help alleviate unemployment, inequality, and other socioeconomic gaps while fostering a circular economic culture. It delves into how these practices foster a circular economy mindset and provide practical frameworks for sustainable economic development growth in a post-pandemic world.

Suggested Citation

  • Ionascu Alina & Noja Gratiela Georgiana, 2024. "Analyzing Innovation through Bibliometrics: A Comparative Study of Sustainable Practices in Leading Economies," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 18(1), pages 2719-2732.
    • Handle: RePEc:vrs:poicbe:v:18:y:2024:i:1:p:2719-2732:n:1041
    DOI: 10.2478/picbe-2024-0227
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    References listed on IDEAS

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    6. Sophie A Shive & Margaret M Forster & Jose Scheinkman, 2020. "Corporate Governance and Pollution Externalities of Public and Private Firms," The Review of Financial Studies, Society for Financial Studies, vol. 33(3), pages 1296-1330.
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