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Innovation and efficiency in Latin American countries: a study of the impact and applied evolution of neural networks

Author

Listed:
  • Mercedes Gaitán-Angulo
  • Melva Inés Gómez-Caicedo
  • Anderson Quintero
  • Juan Antonio Marmolejo Martín
  • Hasbleidy Camila Parra Méndez
  • Carlos Yesid Briñez Torres

Abstract

The relationship between the indicators that measure innovation and efficiency in Latin America is of vital importance, as it allows for the acquisition of valuable information for the implementation of strategies that promote development in the region. The main contribution of this work is to identify the constructs that enhance the innovative characteristics of these Latin American countries before the world. The relevant characteristics were identified according to the Global Innovation Index data from 2013 to 2020. We used principal component analysis, and then a simulation is performed from 2021 to 2030 using neural networks, which allows us to identify better innovative policies based on the region's resources focused on its socio-economic structure. Among the main findings, we find that the region's best performance is concentrated in the following pillars: institutions and infrastructure and knowledge and technology products. However, problems are evident in human capital formation, market satisfaction, business satisfaction and creative production.

Suggested Citation

  • Mercedes Gaitán-Angulo & Melva Inés Gómez-Caicedo & Anderson Quintero & Juan Antonio Marmolejo Martín & Hasbleidy Camila Parra Méndez & Carlos Yesid Briñez Torres, 2023. "Innovation and efficiency in Latin American countries: a study of the impact and applied evolution of neural networks," International Journal of Revenue Management, Inderscience Enterprises Ltd, vol. 13(4), pages 257-280.
    • Handle: RePEc:ids:ijrevm:v:13:y:2023:i:4:p:257-280
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