The impact of innovativeness factors on the EU countries' competitiveness

Abstract

The purpose of this paper is to explore the impact of innovativeness factors in the European Union (EU) member states on the level of their national economy competitiveness (global competitiveness of each country in the EU). The aim of the research is to identify the vital factors of innovativeness, innovative activity and innovation capital in the EU member states. The research is realized by the method of correlation, regression and cluster analysis. The research results point to the existence of differences in the level of innovativeness of the EU countries, a high correlation level between competitiveness and innovativeness, as well as segments of innovation activities (innovativeness factors) which require necessary actions for increasing the competitiveness level of the EU countries. The study gives recommendations to the innovation policy makers in the European Union countries for formulating national innovation strategy.

Keywords

• innovation
• innovativeness
• competitiveness
• European Union