IDEAS home Printed from https://ideas.repec.org/a/agr/journl/v4(629)y2021i4(629)p19-30.html
   My bibliography  Save this article

Revealing the effects of competitiveness and innovation on economic growth: Evidence from European leading and following countries

Author

Listed:
  • Lejla TERZIĆ

    (University of East Sarajevo, Bosnia and Herzegovina)

Abstract

This article deals with the indispensable factors determining the effects of competitiveness and innovation on economic growth by investigating the connection between crucial indicators. The competitiveness and innovation of the European leading and following countries are strongly connected to its economic growth. The aim of this article is to explore the significance of competitiveness and innovation in boosting economic growth per capita in selected European countries. In order to explore the effects among the factors of competitiveness and innovation on economic growth per capita, differsified methodological evaluation tools have been used. The data were collected from both primary and secondary sources. Comparative analysis of European leading and following countries was utilized by the statistical software package SPSS 25. The research results highlight the crucial competitiveness and innovation factors for prospected economic growth in selected economies. The corresponding measures bounded for economic growth are associated to the high composite indices of competitiveness and innovation achievement. Admission the diversities between relevant indicators and recognition of vulnerability is the base for the ensuing acknowledgement of appropriate economic performances for progress the demanding segments.

Suggested Citation

  • Lejla TERZIĆ, 2021. "Revealing the effects of competitiveness and innovation on economic growth: Evidence from European leading and following countries," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(4(629), W), pages 19-30, Winter.
    • Handle: RePEc:agr:journl:v:4(629):y:2021:i:4(629):p:19-30
    as

    Download full text from publisher

    File URL: http://store.ectap.ro/articole/1564.pdf
    Download Restriction: no
    File URL: http://www.ectap.ro/articol.php?id=1564&rid=145
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-1037, October.
    2. Howells, Jeremy, 2005. "Innovation and regional economic development: A matter of perspective?," Research Policy, Elsevier, vol. 34(8), pages 1220-1234, October.
    3. Philippe Aghion & Nick Bloom & Richard Blundell & Rachel Griffith & Peter Howitt, 2005. "Competition and Innovation: an Inverted-U Relationship," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 120(2), pages 701-728.
    4. Brian Snowdon & George Stonehouse, 2006. "Competitiveness in a globalised world: Michael Porter on the microeconomic foundations of the competitiveness of nations, regions, and firms," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 37(2), pages 163-175, March.
    5. Robert E. Hall & Charles I. Jones, 1999. "Why do Some Countries Produce So Much More Output Per Worker than Others?," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 114(1), pages 83-116.
    6. Petrakis, Panagiotis E. & Kostis, Pantelis C. & Valsamis, Dionysis G., 2015. "Innovation and competitiveness: Culture as a long-term strategic instrument during the European Great Recession," Journal of Business Research, Elsevier, vol. 68(7), pages 1436-1438.
    7. Michael Freudenberg, 2003. "Composite Indicators of Country Performance: A Critical Assessment," OECD Science, Technology and Industry Working Papers 2003/16, OECD Publishing.
    8. Gerard George & Anita M. McGahan & Jaideep Prabhu, 2012. "Innovation for Inclusive Growth: Towards a Theoretical Framework and a Research Agenda," Journal of Management Studies, Wiley Blackwell, vol. 49(4), pages 661-683, June.
    9. Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 70(1), pages 65-94.
    10. Dong-Sung Cho & Hwy-Chang Moon, 2013. "International Review of National Competitiveness," Books, Edward Elgar Publishing, number 15352.
    11. Gene M. Grossman & Elhanan Helpman, 2015. "Globalization and Growth," American Economic Review, American Economic Association, vol. 105(5), pages 100-104, May.
    12. Karl Aiginger, 2006. "Revisiting an Evasive Concept: Introduction to the Special Issue on Competitiveness," Journal of Industry, Competition and Trade, Springer, vol. 6(2), pages 63-66, June.
    Full references (including those not matched with items on IDEAS)

    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. Rana P. Maradana & Rudra P. Pradhan & Saurav Dash & Kunal Gaurav & Manju Jayakumar & Debaleena Chatterjee, 2017. "Does innovation promote economic growth? Evidence from European countries," Journal of Innovation and Entrepreneurship, Springer, vol. 6(1), pages 1-23, December.
    2. Simplice A. Asongu & Paul N. Acha-Anyi, 2020. "Enhancing ICT for productivity in sub-Saharan Africa: Thresholds for complementary policies," African Journal of Science, Technology, Innovation and Development, Taylor & Francis Journals, vol. 12(7), pages 831-845, November.
    3. Wang, Lu & Luo, Gong-li & Sari, Arif & Shao, Xue-Feng, 2020. "What nurtures fourth industrial revolution? An investigation of economic and social determinants of technological innovation in advanced economies," Technological Forecasting and Social Change, Elsevier, vol. 161(C).
    4. Peter Howitt, 2004. "Endogenous Growth, Productivity and Economic Policy: A Progress Report," International Productivity Monitor, Centre for the Study of Living Standards, vol. 8, pages 3-15, Spring.
    5. Azariadis, Costas & Stachurski, John, 2005. "Poverty Traps," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 5, Elsevier.
    6. Kumar, Sanjesh & Singh, Baljeet, 2019. "Barriers to the international diffusion of technological innovations," Economic Modelling, Elsevier, vol. 82(C), pages 74-86.
    7. Kwack, Sung Yeung & Lee, Young Sun, 2006. "Analyzing the Korea's growth experience: The application of R&D and human capital based growth models with demography," Journal of Asian Economics, Elsevier, vol. 17(5), pages 818-831, November.
    8. Milenko Popovic, 2006. "Capital Augmenting And Labor Augmenting Approach In Measuring Contribution Of Human Capital And Education To Economic Growth," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 2(4), pages 71-108.
    9. Edgar Morgenroth, 2003. "What should Policy Makers Learn from Recent Advances in Growth Theory and New Economic Geography?," Papers WP150, Economic and Social Research Institute (ESRI).
    10. Kevin S. Nell & A.P. Thirlwall, 2017. "Why does the productivity of investment vary across countries?," PSL Quarterly Review, Economia civile, vol. 70(282), pages 213-245.
    11. Christos N. Pitelis, 2011. "Foreign Direct Investment and Economic Integration," Chapters, in: Miroslav N. Jovanović (ed.), International Handbook on the Economics of Integration, Volume III, chapter 1, Edward Elgar Publishing.
    12. M. Danquah & B. Ouattara, 2014. "Productivity Growth, Human Capital And Distance To Frontier In Sub-Saharan Africa," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 39(4), pages 27-48, December.
    13. Lorenz Blume & Thomas Döring, 2009. "Unterschiede regionaler Wirtschaftskraft – welchen Einfluss hat die Landespolitik?," Review of Regional Research: Jahrbuch für Regionalwissenschaft, Springer;Gesellschaft für Regionalforschung (GfR), vol. 29(2), pages 105-120, October.
    14. Asongu, Simplice & Boateng, Agyenim & Akamavi, Raphael, 2016. "Mobile Phone Innovation and Inclusive Human Development: Evidence from Sub-Saharan Africa," MPRA Paper 75046, University Library of Munich, Germany.
    15. Acemoglu, Daron & Johnson, Simon & Robinson, James A., 2005. "Institutions as a Fundamental Cause of Long-Run Growth," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 6, pages 385-472, Elsevier.
    16. Julia Korosteleva & Colin Lawson, 2010. "The Belarusian case of transition: whither financial repression?," Post-Communist Economies, Taylor & Francis Journals, vol. 22(1), pages 33-53.
    17. Zhang, Xiaobei & Wang, Xiaojun, 2021. "Measures of human capital and the mechanics of economic growth," China Economic Review, Elsevier, vol. 68(C).
    18. Joao Ricardo Faria & Miguel León-Ledesma, 2003. "Cultural Heritage and Growth," Studies in Economics 0303, School of Economics, University of Kent.
    19. Michael S. Delgado & Daniel J. Henderson & Christopher F. Parmeter, 2014. "Does Education Matter for Economic Growth?," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 76(3), pages 334-359, June.
    20. Aysit Tansel & Ceyhan Ozturk & Erkan Erdil, 2021. "The Impact of Body Mass Index on Growth, Schooling, Productivity, and Savings: A Cross-Country Study," Koç University-TUSIAD Economic Research Forum Working Papers 2118, Koc University-TUSIAD Economic Research Forum.

    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:agr:journl:v:4(629):y:2021:i:4(629):p:19-30. 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: Mircea Dinu (email available below). General contact details of provider: https://edirc.repec.org/data/agerrea.html .

    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.