Global Dimension of Innovation Capacity of the European Union Member Countries

Abstract

The article examines the essence of the global innovation capacity of the member states of the European Union and its interconncetion with involvement in the processes of international economic integration and disintegration. It is noted that the global innovative force has a significant impact on stable economic growth and competitive positions of any economic entity in the world arena. In addition, it was determined that the unification of countries into interstate integration groupings leads to the transformation of the innovation capacity of the member country and the formation of the innovation capacity of the international integration associations. As a result of the study, it was noted that today there is no single methodology for measuring innovative capacity. As part of the innovation capacity research of the European Union member states, the most prominent and frequently used method for measuring the innovation capacity of the country amongst of global economy, namely the global innovation index, is considered. The aim of this article is to compare the positions of the innovative capacity of the member states of the European Union and to study how the integration and disintegration processes in the European Union affect the innovation capacity of participants and, in the prospect, develop a methodology for ranking the innovation capacity of interstate integration associations. The positions of the innovation capacity in the global economy of the European Union member states are analyzed according to the global innovation index. It has been established that five member countries of the European Union are in the top 10 most innovative economies in the world economy. The innovation capacity index of the European Union 2020 is proposed to be calculated and was calculated. It is noted that albeit the ratings do not give any propositions, but only actually determine the state, however, with their assistance it is possible to carry out adequate monitoring, analysis, forecast of activation and measurement of innovation leadership of all economic and innovative entities of the global economy. It has been proved that methodological approaches to measuring the innovation capacity of the subjects of the global economy ought to be improved furthermore ratings should be developed not only in the context of countries, but of international integration associations as well.