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Analysis of the Relationship among Innovation Performance, Economic Development and Social Welfare
[journal article]
Abstract
In our modern world everything is related: without innovation performance there is no economic development, without economic development no improvement can be found in social welfare and vice versa. In this study I explore the relationship among these three key factors with the help of statistical m... view more
In our modern world everything is related: without innovation performance there is no economic development, without economic development no improvement can be found in social welfare and vice versa. In this study I explore the relationship among these three key factors with the help of statistical methods. Before that I give a brief summary on the indices that makes the measurement of the above-mentioned fields possible. After that I carry out statistical description of these relationships by pairs with the method of correlation analysis. Results obtained on the basis of data of the European Union member states prove that relationships among innovation performance, economic development and social welfare of countries are very strong and statistically significant. Furthermore, analysis described in the paper also proves that increasing innovation performance has a positive effect on different dimensions of social welfare.... view less
Keywords
research and development; economic development (on national level); innovation; social welfare state
Classification
Social Policy
National Economy
Document language
English
Publication Year
2015
Page/Pages
p. 71-78
Journal
Theory, Methodology, Practice, 11 (2015) 1
ISSN
2415-9883
Status
Published Version; peer reviewed