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Innovative Potential in European Countries: Analytical and Legal Aspects

Author

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  • S.I. Kubiv
  • N.S. Bobro
  • G.S. Lopushnyak
  • Y.I. Lenher
  • A. Kozhyna

Abstract

Purpose: This paper aims to assess the innovation potential of Eastern European economies based on country's ability to export high-tech goods and services, which means innovating beyond the country's needs. Design/Methodology/Approach: We use analytical economic methodology to explore innovative potential of EE (Eastern Europe) countries as correlation-regression analysis. Findings: The study found that the innovative potential of the economy of EE (Eastern Europe) countries depends on the state’s expenditures on innovative research and development, the number of scientists and the level of financing for technical cooperation. Practical Implications: The negative factors that influence the formation of innovative potential are identified. The use of intellectual property rights by EE countries is inefficient and does not ensure the development of innovative potential. Patents for research and development of residents as well as non-residents do not ensure the progress and effectiveness of the innovative potential of the economy. The export of ICT services negatively affects innovative potential, however it is not a significant factor influencing innovative activity. Originality/Value: With this article we show that financing technical cooperation in EE countries does not lead to the development of innovative potential, that is, it is inefficient.

Suggested Citation

  • S.I. Kubiv & N.S. Bobro & G.S. Lopushnyak & Y.I. Lenher & A. Kozhyna, 2020. "Innovative Potential in European Countries: Analytical and Legal Aspects," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(2), pages 250-264.
    • Handle: RePEc:ers:ijebaa:v:viii:y:2020:i:2:p:250-264
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    References listed on IDEAS

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    Cited by:

    1. Oksana V. Shcherbanyuk & Oksana V. Kurylina & Natalia A. Serdiuk & Оleh V. Ilnytskyi & Serhii V. Bashlai & Petro A. Trachuk, 2020. "Protecting Fundamental Rights within the European Union," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(Special 1), pages 141-153.
    2. Iaroslav V. Petrunenko & Mariia F. Plotnikova & Alona V. Nieliepova & Tamila Yu. Bilousko & Anastasiia V. Mazur & Iryna M. Goncharenko, 2020. "Innovative Entrepreneurship in Countries of Eastern Europe," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(Special 1), pages 127-140.
    3. Svitlana V. Onyshchuk & Viktoriia D. Filippova & Oksana A. Nosyk & Oleksandra B. Vasylchyshyn & Valentyna P. Iakobchuuk, 2020. "Interaction of Government Bodies and Civil Society Institutions for Achieving Public Policy Goals," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(Special 1), pages 114-126.
    4. Olha Y. Maiboroda & Liudmyla S. Bezuhla & Andrii F. Gukaliuk & Viktoriia V. Shymanska & Tetiana V. Momont & Tetiana V. Ilchenko, 2020. "The Global Value of Distribution Networks and Logistic Opportunities," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(Special 1), pages 227-238.

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    More about this item

    Keywords

    Innovative potential and capabilities; effectiveness of innovation; legal aspects.;
    All these keywords.

    JEL classification:

    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity

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