Research background: A literature review on innovativeness and institutions pointing to their correlation and the possibility of their joint examination. Purpose of the article: This paper attempts to devise a measurement method for a creative economy, where as a result of feedback between institutions, human capital and technology conditions facilitating the development of creativity are created. Methods: An empirical meta-analysis of indicators characterising innovativeness and institutional environment was carried out, following the hypothesis that at least in part they contain common information on creative economy. Findings and Value added: The new synthetic index, a creative economy index (CEI), was constructed. The study was conducted for a group of 34 economies of the European Union and its associated states for the period of 2005–2014.

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As a consequence of globalisation, economic growth and productivity have become more sensitive to developments beyond national frontiers. This paper explores trade (import and export) and foreign direct investment (FDI) as channels of international total factor productivity (TFP) spillovers. FDI and trade are potentially important sources of productivity growth; however, empirical literature is inconclusive as to the nature and extent of spillovers and does not simultaneously cover all three channels. Our main goal is to examine the transmission of TFP spillover effects jointly through trade and FDI channels in 41 countries (members of the EU and OECD) during the period 1995-2014. We use dynamic panel estimation strategies. The main findings are: 1) Each of the spillover channels of TFP is significant for TFP when studied separately; 2) Joint examination of all channels allows for concluding that the export channel is the dominant one.

Research background: In existing studies two main channels of international technology spillovers are extensively discussed — trade and FDI. Nevertheless empirical studies give mixed results regards the nature and extent of trade and FDI spillovers. Purpose of the article: The aim of the article is to study import and foreign direct investments (FDI) as channels of international TFP spillovers. Methods: We employ dynamic spatial autoregression (SAR) methods. Our panel comprises data for 41 developed and upper mid-developed countries over the period 1995–2014. Findings & Value added: Our preliminary results show that (1) the trade and investment channels are both important for technology transfer, (2) the degree of their significance depends on the absorptive capacity such as good quality of the institutions.

The paper deals with smart growth as a new economic category. The first part presents the theoretical aspects of this concept. The second part shows the results of smart economy development measuring for Poland based on the creative economy index (CEI) in the period of 2005-2014. Polish economy in the years 2005-2014 improved the conditions for smart growth -its CEI increased by 47%. This outcome consists of the results in four intermediate composite indicators, i.e.: inventive economy (IE), political institutions (PI), business regulations (BR) and fiscal institutions (FI). At the time, the largest percentage increase was recorded for the political institutions subindex (263%), followed respectively by the business regulations subindex (189%) and then inventive economy subindex (26%). During the same period fiscal institutions subindex decreased by 30%.