scholarly journals Innovation rate as a quality indicator of economic development: case of the former Yugoslavian countries

2021 ◽  
Author(s):  
Zrinka Mrkonjić ◽  
Diana Plantić Tadić
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Quality Indicator ◽  
Developed Countries ◽  
Influential Factors ◽  
Entrepreneurial Activity ◽  
Key Indicator ◽  
Political Background ◽  
Innovation Rate ◽  
Sustainable Economic Growth

Abstract: When it comes to economic growth of modern day developed countries, it can be concluded that certain factors can be distinguished as definitive quality indicators of economic growth. Meaning that the rise of said factors will in most cases ensure sustainable economic growth. Considering the rise of capitalism and the growth of multinational companies, one challenge most modern day countries face is strengthening of a countries export rates and inspiring continuous entrepreneurial activity. One key indicator that has thus far been often overlooked is the innovation rate. The aim of this paper is to conclude whether or not the innovation rate can be used as a quality indicator of economic development. The focus in this paper has been put on the former Yugoslavian countries. The reason for this being that all of their economies started developing at the same time and under a very similar socio-political background and origin. This makes them a good subject for observation, seeing as how they all developed to different capacities and at various rates. Observing these countries and various influential factors can help discern the factors which impact the GDP rate the most. In particular, the innovation rate. Sažetak: Kad je riječ o ekonomskom rastu današnjih razvijenih zemalja, može se zaključiti da se određeni čimbenici mogu razlikovati kao konačni pokazatelji kvalitete gospodarskog rasta. Što znači da će porast navedenih čimbenika u većini slučajeva osigurati održivi gospodarski rast. Uzimajući u obzir rast kapitalizma i rast multinacionalnih tvrtki, jedan od izazova s kojima se suočava većina modernih zemalja je jačanje izvoza i poticanje kontinuirane poduzetničke aktivnosti. Jedan od ključnih pokazatelja koji se do sada često zanemarivao je stopa inovacija. Cilj je ovog rada istražiti može li se stopa inovacija koristiti kao pokazatelj kvalitete gospodarskog razvoja. Fokus u ovom radu je stavljen na zemlje nastale na prostoru bivše Jugoslavije. Razlog tome je taj što su se njihova gospodarstva počela razvijati u isto vrijeme i pod vrlo sličnom društveno-političkim okolnostima. To ih čini podobnim za istraživanje i zaključivanje o tome kako su se razvijali do različitih razina i različitom dinamikom. Istraživanje ovih zemalja i različitih čimbenika utjecaja može pomoći u prepoznavanju čimbenika koji najviše utječu na stopu BDP-a. Konkretno, stopa inovacija.

Growth and Social Capital: Empirical Analysis of the Relationship

2019 ◽  
pp. 128-134
Author(s):  
Ksenia V. Bagmet
Keyword(s):  
Economic Growth ◽  
Social Capital ◽  
Economic Development ◽  
Social Development ◽  
Empirical Analysis ◽  
Panel Data Analysis ◽  
Well Being ◽  
Developed Countries ◽  
International Institute ◽  
Level Of Economic Development

The article provides an empirical test of the hypothesis of the influence of the level of economic development of the country on the level of development of its social capital based on panel data analysis. In this study, the Indices of Social Development elaborated by the International Institute of Social Studies under World Bank support are used as an indicators of social capital development as they best meet the requirements for complexity (include six integrated indicators of Civic Activism, Clubs and Associations, Intergroup Cohesion, Interpersonal Safety and Trust, Gender Equality, Inclusion of Minorities), comprehensiveness of measurement, sustainability. In order to provide an empirical analysis, we built a panel that includes data for 20 countries divided into four groups according to the level of economic development. The first G7 countries (France, Germany, Italy, United Kingdom); the second group is the economically developed countries, EU members and Turkey, the third group is the new EU member states (Estonia, Latvia, Lithuania, Romania); to the fourth group – post-Soviet republics (Armenia, Georgia, Russian Federation, Ukraine). The analysis shows that the parameters of economic development of countries cannot be completely excluded from the determinants of social capital. Indicators show that the slowdown in economic growth leads to greater cohesion among people in communities, social control over the efficiency of distribution and use of funds, and enforcement of property rights. The level of tolerance to racial diversity and the likelihood of negative externalities will depend on the change in the rate of economic growth. Also, increasing the well-being of people will have a positive impact on the level of citizens’ personal safety, reducing the level of crime, increasing trust. Key words: social capital, economic growth, determinant, indice of social development.

scholarly journals Investigating the effects of environmental patents and climate change mitigation technologies on sustainable economic growth in the Middle East

2021 ◽  
Author(s):  
Sadegh Abedi ◽  
Mehrnaz Moeenian
Keyword(s):  
Climate Change ◽  
Economic Growth ◽  
Middle East ◽  
Climate Change Mitigation ◽  
Developed Countries ◽  
Factors Affecting ◽  
Middle East Countries ◽  
Sustainable Economic Growth ◽  
Change Mitigation

Abstract Sustainable economic growth and identifying factors affecting it are among the important issues which have always received attention from researchers of different countries. Accordingly, one of the factors affecting economic growth, which has received attention from researchers in the developed countries over recent years, is the issue of environmental technologies that enter the economic cycle of other countries after being patented through technology transfer. The current research investigated the role of the environment-related patents and the effects of the patented technological innovations compatible with climate change mitigation on the economic growth and development in the Middle East countries within a specific time period. The required data were gathered from the valid global databases, including Organization for Economic Co-operation and Development and World Bank and have been analyzed using multi-linear regression methods and econometric models with Eviews 10 software. The obtained results with 95% confidence level show that the environmental patents (β = 0.02) and environment management (β = 0.04) and technologies related to the climate change mitigation (β = 0.02) have a significant positive impact on the sustainable economic development and growth rate in the studied countries. Such a study helps innovators and policymakers in policy decisions related to sustainable development programs from the perspective of environmentally friendly technologies by demonstrating the role of patents in three important environmental areas, namely environmental management, water-related adaptation and climate change mitigation, as one of the factors influencing sustainable economic growth.

Analysis of Major Problems Faced by Small Firms in North India

2015 ◽  
Vol 15 ◽  
pp. 150-160
Author(s):  
Davinder Singh ◽  
Jaimal Singh Khamba ◽  
Tarun Nanda
Keyword(s):  
Economic Growth ◽  
Developing Countries ◽  
Economic Development ◽  
Small Firms ◽  
Small And Medium Enterprises ◽  
Developed Countries ◽  
North India ◽  
Small Enterprises ◽  
Employment Generation ◽  
Medium Enterprises

Micro, Small and Medium Enterprises (MSMEs) have been noted to play a significant role in promoting economic growth in less developed countries, developing and also in developed countries. Worldwide, the micro and small enterprises have been accepted as the engine of economic growth of any nation. Small and Medium Enterprises are the backbone of the economies, because it trigger employment, output, export, poverty alleviation, economic empowerment, economic development etc. in developed as well as in developing countries. It is more important to developing countries as the poverty and unemployment are burning problems. MSMEs have been playing a momentous role in overall economic development of a country like India where millions of people are unemployed or underemployed. Therefore, the growth of small sectors is essential for the growth in the GDP, employment generation, total manufacturing production and export. India, being one of the fastest growing economies of the world, needs to pay an honest attention for the utmost growth of MSMEs for its increased contribution in above areas.

DEMOCRACY, ECONOMIC COMPLEXITY AND SOCIO-ECONOMIC DEVELOPMENT: PROBLEMS OF INTERCONNECTION AND WAYS OF THEIR INCREASE IN UKRAINE

2018 ◽  
Author(s):  
Anna Smahliuk ◽  
◽  
Tetiana Pokotylo ◽  
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Democratic Institutions ◽  
Economic Complexity ◽  
Multiplier Effect ◽  
Socio Economic Development ◽  
National Production ◽  
Level Of Knowledge ◽  
Sustainable Economic Growth

The article explores the factors that allow the economies of the countries of the world to achieve sustainable economic growth at different stages of the country's economic development, depending on the level of GDP per capita. Among which are highlighted: basic factors, efficiency factors and innovative factors. For the Ukrainian economy, which is at the stage of focusing on efficiency, the issues of the place, significance and level of economic complexity of the Ukrainian economy and ensuring sustainable economic growth on this basis are considered. Economic diversification and complexity are defined as key drivers of long-term growth. The dynamics of the index of economic complexity in Ukraine is analyzed, modern trends are revealed. Directions and strategic approaches to the diversification of national production are proposed, which could have a significant multiplier effect, increase the complexity and level of knowledge in the economy. It also provides evidence on the relationship between socio-economic development, values of self-expression and democratic institutions. The conclusion is formulated: socio- economic development leads to the spread of the values of self-expression, and they, in turn, to the establishment and strengthening of democratic institutions.

scholarly journals Adaptation of Globalization and Their Effect to the Tanzania Economic Growth

2018 ◽  
Vol 13 (8) ◽  
pp. 217
Author(s):  
Japhet Jacksoni Katanga ◽  
Seleman Pharles
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
International Cooperation ◽  
Developing Economies ◽  
Economic Inequality ◽  
Developed Countries ◽  
Advance Technology ◽  
African Countries ◽  
The Social

Globalization can be defined as the process based on international cooperation strategies, the aims of globalization is to expanded the operation of a certain business or service to become into a worldwide level, Globalization facilitate the modern advance technology which help community to undergo the social, political and economic development. Globalization economic has reinforced the margination for African developing economies and make to be dependent for the few primary commodities or service whereby the price and demand are extreme determine by externally. On this outcome it lead some of the African countries to be turn into poverty or economic inequality due let their own resources being determine by developed countries. On these paper you will get a chance to oversee the effect of adaption globalization to Tanzania economic growth.

scholarly journals DETERMINANTS OF INVESTMENT SPHERE DEVELOPMENT IN THE CONTEXT OF THE MODERN ECONOMIC PARADIGM

2020 ◽  
Vol 5 (5) ◽  
pp. 54
Author(s):  
Oksana Kazak ◽  
Tetyana Obelets
Keyword(s):  
Sustainable Development ◽  
Economic Development ◽  
Developed Countries ◽  
Scientific Paper ◽  
Entrepreneurial Activity ◽  
Investment Climate ◽  
Industrial Transformation ◽  
Fixed Capital Formation ◽  
Analytical Estimation ◽  
Kyiv Polytechnic Institute

The aim of the article is to illuminate the modern paradigm of the globalization economic environment, which shows the gradual end of the decade of “crisis-free” growth of the world economy and, accordingly, the nearing to the next global economic crisis; to cover the importance of attracting investment and implementing a specific national industrial policy as one of the key factors of development; to outline the problems of prevention, forecasting and analysis of risks arising in the investment sphere in the context of providing conditions for sustainable development of the Ukrainian economy. The subject of the study is: the monitoring of investment sector indicators that determine the potential of economic development and provide an analytical assessment of the risks posed in the investment sphere in the context of ensuring the conditions of sustainable development of the Ukrainian economy. Methodology. The article uses the complex approach with the application of methods of simulation and econometric modeling for analytical estimation of gross fixed capital formation as a key investment indicator in the current economic conditions of Ukraine. Results. The conducted study clearly demonstrates not only the presence but also the obvious deepening of the imbalance between the current state of attracting foreign investments and actual needs in technological and physical renewal of the production sphere. The consequence is a real threat of loss of potential for economic development. Some measures have been identified to improve the investment climate, and the key ones are the provision of state support for reforming the Ukrainian economy in terms of improving the investment climate and stimulating the innovative potential of entrepreneurial activity. The practical implications of this study are to identify the lack of innovation strategy, which deepens Ukraine’s technological backwardness compared to developed countries in general, and the EU countries, in particular, and keeps the inefficient and destructive natural-production base of Ukrainian economy. Value/originality. This research was carried out within the framework of the implementation of a scientific paper of the Department of Theoretical and Applied Economics of National Technical University of Ukraine “Igor Sikorsky Kyiv Polytechnic Institute (No. 0112U007817) on the topic: “Globalization of industrial capacity formation trends in the terms of post-industrial transformation”.

scholarly journals Research on strategic emerging industries boosting high quality economic

2021 ◽  
Vol 235 ◽  
pp. 02011
Author(s):  
He Jiang ◽  
Yonghui Cao
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Industrial Structure ◽  
Decisive Role ◽  
High Quality ◽  
Emerging Industries ◽  
National Economic ◽  
Countermeasures And Suggestions ◽  
Sustainable Economic Growth

With the development of knowledge economy and the advancement of economic globalization, strategic emerging industries have become the leading industries for a country or region to achieve sustainable economic growth in the future. They are the high integration of emerging technologies and emerging industries, and the driving force of national economic growth. They play an important guiding and decisive role in the national economic growth and the transformation and upgrading of industrial structure. In recent years, China’s strategic emerging industries continue to grow rapidly, and have made remarkable achievements in innovation and development, which play an important role in the national economic growth and the transformation and upgrading of industrial structure, but there are also shortcomings. Based on the current situation of the development of strategic emerging industries, this paper analyzes the role of strategic emerging industries in economic development, and puts forward countermeasures and suggestions for strategic emerging industries to boost high-quality economic development.

scholarly journals SMART GROWTH PROGRESS IN EUROPEAN UNION: A COHESION APPROACH

2019 ◽  
Vol 133 (2) ◽  
pp. 41-49
Author(s):  
Viktor Kozlovskij
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Tertiary Education ◽  
Smart Growth ◽  
Developed Countries ◽  
Member States ◽  
Eu Countries ◽  
Development Level ◽  
Growth Indicators ◽  
The Eu

Economic development and socioeconomic cohesion have always been an object of scientific research. In particular, this issue had become a focus of attention after EU enlargement in 2004 and Great Recession in 2007–2009. The above changes have given way to a certain slowdown in economic growth in most EU countries along with triggering a range of divergence processes between EU countries and regions. As a response to situation, the EU offered a Europe 2020 strategy, in which smart growth was mentioned as one of critical instruments to deal with increasing menaces. The objective of the study is to evaluate the progress of the main smart growth indicators (investment in research and development (R&D), employment rate and share of population obtaining tertiary education) in the EU over the period 2001–2017 within the framework of the economic cohesion concept. The paper seeks to explore the EU from different perspectives. First, the EU new member states (EU-10) and the old ones (EU-14) were compared. Second, the EU countries were divided by economic development level (calculated by GDP per capita in PPP): highly developed (H-7), medium developed (M-7) and less developed (L-7) countries. Finally, aggregate cohesion indices of all three smart growth indicators were calculated for the entire EU (EU-28). The research findings have revealed some interesting trends. First, each smart growth indicator’s progress depends on countries’ economic development level. Aggregate values for more developed countries (EU-14, H-7 and G-3) are always higher than the EU average (EU-28) and aggregate values for less developed economies are basically lower. Second, cohesion progress of smart growth indicators was influenced by economic recession in 2007–2009. It is argued that cohesion is evident in times of economic growth, but its progress ceases or divergence might occur in case of economic hazards. However, despite the expanding cohesion between the new and the old member states, a gap between certain groups of countries is even growing. This is clearly evident when the EU member states are divided into groups subject to the level of their economic development.

A Systemic Approach towards Responsible and Sustainable Economic Development

2017 ◽  
pp. 208-227
Author(s):  
Thea Van der Westhuizen
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Systems Theory ◽  
Systemic Approach ◽  
Economic Changes ◽  
Sustainable Economic Development ◽  
Collective Innovation ◽  
Sustainable Economic Growth ◽  
Innovation And Entrepreneurship

A possible way to increase responsible and sustainable economic development is to enhance collective innovation and entrepreneurship on various systemic levels in order to gain socio-economic developmental momentum. In an era which faces socio-economic changes on multiple systemic levels, especially within the mundosystem, collective and creative approaches towards systemic activities are necessary, not only to drive businesses forward, but to give momentum to global economies. In this chapter, the author philosophizes about entrepreneurship, systems theory and socio-economic momentum and how these play an important role to give momentum to responsible and sustainable economic growth.

scholarly journals Application of Multi-Criteria Decision-Making Model and GM (1,1) Theory for Evaluating Efficiency of FDI on Economic Growth: A Case Study in Developing Countries

2019 ◽  
Vol 11 (8) ◽  
pp. 2389 ◽  
Author(s):  
Wang ◽  
Le
Keyword(s):  
Economic Growth ◽  
Decision Making ◽  
Developing Countries ◽  
Economic Development ◽  
Exchange Rate ◽  
Malmquist Productivity Index ◽  
Productivity Index ◽  
Sustainable Economic Development ◽  
Sustainable Economic Growth

Foreign direct investment (FDI) and corporate social responsibility (CSR) spending are one of the major factors in improving sustainable economic development of a country. Therefore, this study focuses on the multi criteria application of FDI and sustainability factors (CSR spending) in various developing countries to explore its impact and decision making for sustainable economic growth. The study uses a case study methodology whereby FDI, exchange rate, and CSR expenditure data from 20 countries were used to assess the efficiency in sustainable economic growth. Data were collected from the World Bank for 20 Asian and African developing countries during 2012–2017 and analyzed using GM (1,1), mean absolute percentage error (MAPE), Malmquist productivity index (MPI)-data envelopment analysis (DEA), and the slacks-based measure of efficiency (SBM) model. Correlation analysis is used to find the relationship for FDI, CSR, exchange rate, gross domestic product (GDP), and GDP per capita (GDPPC). The results of the Malmquist productivity index and the frontier effect clearly highlight that a few countries have witnessed a great improvement in terms of productivity and technological progression. Therefore, the decision makers must adopt the model of those countries with respect to sustainable development of the nation. This study helps developing nations as well as researchers to benchmark efficient countries and follow their strategies to develop a new one for utilizing FDI and CSR spending in sustainable economic development. The study also helps policy makers in multi criterion application of FDI and CSR for decision making in economic development.

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