Innovative ability as a factor of improving country competitiveness

Abstract

The paper discusses the interdependence of Innovation capability of the economy and national competitiveness based on the data according to Global Competitiveness Index 4.0 (GCI 4.0) in 2019. Correlation analysis examined the interdependence of innovation ability and GC 4.0 on the example of 141 countries. First, an analysis of the interdependence of innovation capacity and competitiveness of the countries that were in the lead according to the criterion of the achieved level of competitiveness is given, and then an identical procedure was conducted on the example of ten selected countries in Southeast Europe in 2019. The research showed that the most innovative countries are also the most competitive countries in the world. What is more, the research revealed the fact that innovation is the basis of the competitiveness of the Republic of Serbia and other selected countries of Southeast Europe.

Keywords

• innovation ability
• country competitiveness
• fourth industrial revolution
• gci 40