Sustainable Technology in High-Income Economies: The Role of Innovation

Uğurluay, Koray; Kırıkkaleli, Derviş

doi:10.3390/su14063320

Cited by 4 publications

(4 citation statements)

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“…[29] found in the case of the Economies of Developing Countries, and Ref. [28] who examined the impact of innovation on the availability of cutting-edge technologies for 10 high-income countries, the impact of R&D spending is significant on the global innovation index.…”

Section: Analysis Of Results and Discussionmentioning

confidence: 99%

“…Ugurluay and Kirikkaleli [28] examined the impact of innovation on the availability of cutting-edge technologies for 10 high-income countries for the period of 2008-2018. For the analysis of the work on panel data, the co-integration of Pedroni was used for the long-term relationship of the variables, and the estimation of the variables was carried out via the FMOLS and DOLS methods.…”

Section: Literature Reviewmentioning

confidence: 99%

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R&D Expenditures on Innovation: A Panel Cointegration Study of the E.U. Countries

Dritsaki

2023

Sustainability

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In academic discussions about how to achieve sustainable growth in the world, it is stated that this is not possible without spending on research and development and innovative activities so that countries can maintain their competitiveness in the global environment. The EU has defined strategies that consider innovation as a key element for stimulating growth and creatung employment. In this context, this study examines the relationship between R&D expenditures and the global innovation index in the scope of EU countries. A PVAR model and annual data from 2007 to 2020 were used for the relationship between research expenditures and growth in the innovation of EU countries. We first examined the cross-sectional and cross-country homogeneity of slopes. The second-generation unit root test was then applied using the Pesaran CIPS (2007) test, and the ARDL panel model was applied to test for cointegration. Causal analyses with the panel ARDL model and the error correction model were applied to determine the relationships of the variables and their direction. For the long-term dynamic effects between variables, an impulse response function (IRF) was used, and for the degree of the effect between R&D expenditures and the global innovation index, variance decomposition was used. The results of this paper reveal a long-term positive significant relationship between R&D spending and the global innovation index, whereas in the short-term, this relationship is negative. Furthermore, the causality results of the error correction ARDL model show unidirectional short-run and long-run causality from research and development to the global innovation index in EU countries. Finally, this paper enhances the understanding of the relationship between research and development spending and the global innovation index in EU countries.

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Section: Analysis Of Results and Discussionmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

R&D Expenditures on Innovation: A Panel Cointegration Study of the E.U. Countries

Dritsaki

2023

Sustainability

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“…The institutional support should include increasing the share of public spending on the production of technological innovations from GDP, developing practices that encourage innovation projects based on R&D, as well as investing in education. Competent human resources are of great importance for the development of an innovative economy [114][115][116][117]. In order to develop modern digital technologies in companies and increase their competitiveness, the EU and individual countries must invest in the development of broadband networks (especially in smaller towns and villages) and cyber security.…”

Section: Discussionmentioning

confidence: 99%

Analyzing the Level of Digitalization among the Enterprises of the European Union Member States and Their Impact on Economic Growth

Brodny

2022

Journal of Open Innovation: Technology, Market, and Complexity

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The dynamic development of information and communication technology (ICT) reported in recent years has caused significant changes in almost all areas of social and economic life. The digitalization process resulting from this development is now becoming a determinant of both progress and modernity. This issue has been addressed in this paper, and thereby we present a methodology developed to study the level of digitalization and the use of innovative technologies among the enterprises of the EU-27 countries. The research was conducted using selected indicators—determinants (10) characterizing the main digital technologies and infrastructure associated with their implementation in the enterprises under study. Based on these indicators, the Entropy-Multi-Objective Optimization on the basis of Ratio Analysis (MOORA) method was used to determine the index (level) of digitalization among the companies of the EU-27. The level of use of digital technologies and infrastructure for Industry 4.0 was also determined. Another important goal of the study was to determine a relationship between the values of the digitalization index for the EU-27 countries and the economic parameters characterizing their economies. For this analysis, non-parametric tests such as the Kendall’s Tau and Spearman’s rank correlation coefficients were applied. The results significantly enrich the knowledge of methodology for studying the level of digitalization and its status among the enterprises of the EU-27. These findings provide great opportunities for interpretation and practical application, especially in terms of building an innovative knowledge-based economy. They show great diversity of the EU-27 countries in the field of digitalization and poor results reported in this area by the so-called “new EU” countries. Among the many interesting findings, it is worth pointing out the positive impact of spending on research and development on the process of digitalization of enterprises. The results should be used when creating a digitalization strategy for individual countries and their groups.

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“…Uğurluay and Kirikkaleli ( 41 ) have investigated that Innovation Systems, in high-income countries, play a significant and positive role in developing cutting-edge technologies which ultimately result in promoting economic activities. Developing countries must focus on technology transfer from developed economies to attain better economic growth.…”

Section: Literature Reviewmentioning

confidence: 99%

Sustainability-oriented innovation system and economic stability of the innovative countries

Manzoor

Wei

Subhan

et al. 2023

Front. Public Health

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Novelcoronavirus-19 has created a challenging situation for developed as well as developing countries to sustain economic stability. There are a lot of controversies for policymakers to formulate an effective policy for reviving economic stability and minimizing the economic effects of this pandemic. The present study focuses on the internal mechanism of the Sustainability Oriented Innovation System and its subsequent effects on economic stability in most innovative economies. For empirical analysis of the most innovative countries (12 countries) high-income, middle-income, low-income, and lower-middle-income countries are selected. The Sustainability Oriented Innovation System is represented through the innovation input index and innovation output index. Economic stability is measured through the GDP growth rate of respective countries. A set of panel data was developed for the period of 11 years and Fixed Effect Methods were used to ascertain the empirical findings. The outcomes indicate that innovation is the main force of economic stability. The study’s results are important to policymakers to promote, stimulate and support economic stability through their strategies. Future studies may focus on the effects of the Sustainability Oriented Innovation System on economic stability in regional blocks like the EU, ASEAN, and G-20 countries.

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Sustainable Technology in High-Income Economies: The Role of Innovation

Cited by 4 publications

References 50 publications

R&D Expenditures on Innovation: A Panel Cointegration Study of the E.U. Countries

R&D Expenditures on Innovation: A Panel Cointegration Study of the E.U. Countries

Analyzing the Level of Digitalization among the Enterprises of the European Union Member States and Their Impact on Economic Growth

Sustainability-oriented innovation system and economic stability of the innovative countries

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