AN ANALYSIS FOR THE MACROECONOMIC DETERMINANTS OF INNOVATIONCAPABILITY OF COUNTRIES
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Tarih
2021
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
Today, technological innovations are one of the most important factors in achieving sustainableeconomic growth for countries in the long term. In order for technological innovations to beproduced competitively, countries need to develop and strengthen their innovation climate andinnovation capabilities. The main purpose of this study is to analyse the macroeconomicdeterminants of innovation capability for the 141 countries around the world for the 2019 data.In the study, according to the estimated model results, all explanatory variables in the modelaffect the dependent variable in the same direction. The signs of the coefficients of theexplanatory variables are in line with the economic expectation. According to the empiricalresults, explanatory variables - business dynamism, financial system, research development andcommercialization - contribute to the development of the innovation ability of countries.According to these results, it is of great importance to implement policies that will improve theinnovation climate in order to develop innovations, which are the main source of economicdevelopment and sustainable economic growth. Countries must effectively design all phases ofthe science, technology and innovation value chain. Countries should develop their innovationpolicies and strategies to provide high added value. The continuity of innovation productionshould be ensured by establishing an effective innovation ecosystem with the actors and factorsaffecting the innovation production capability of countries. Countries should strengthen theallocation of resources to research and development to strengthen the science, technology andinnovation value chain. The number of researchers in the research sector should be supported.Cooperation between university and industry is strengthened. Innovation and entrepreneurshipneed to be supported. Technology and innovation-based transformation of the country'seconomy is important for sustainable economic growth. In this process, it is especially importantto develop individual entrepreneurship and innovation culture. At the enterprise level, it isnecessary to support the transformation of enterprises into an innovative structure. Thedevelopment of technological innovations should be integrated as an important strategy at thecenter of development and industrialization policies. Increasing the sustainability and globalcompetitiveness of the country's economy with macroeconomic policies that support innovationis important for increasing social welfare.
Açıklama
Anahtar Kelimeler
İktisat
Kaynak
Uluslararası Avrasya Sosyal Bilimler Dergisi
WoS Q Değeri
Scopus Q Değeri
Cilt
12
Sayı
45
