Relationship between Innovation and Economic Growth in the Example of the Republic of Kazakhstan

Abstract

This article examines the relationship between innovation, education and economic growth in the Republic of Kazakhstan. Many empirical studies have proved a positive relationship between innovation and economic growth, that innovation has become a major component of global economic growth. Despite the acceleration of economic growth in various countries, including Kazakhstan, the relationship between economic growth and innovation in the country remains unclear. This study examined the impact of three factors: R&D, academic staff and innovation spending on economic growth in the Republic of Kazakhstan. The identified groups of indicators of economic development consist of sub-indicators. A regression analysis was done based on statistical data from 2009 to 2021. SPSS software was used for data processing. Three pairs of hypotheses were developed. The results of the first and third groups of hypotheses are similar only in those indicators that represent the total number of participants in innovative development, whose influence on economic development becomes strong. Thus, we can conclude that there is a strong relationship between GDP and indicators of educational and innovation factors. There is a relationship between the indicators of the academic staff in R&D and all enterprises that are involved in the process of development and implementation of innovations in Kazakhstan. The proposed hypotheses were accepted. Government agencies can use the results of this study in the development of innovation policy in the country.

Keywords

• economics
• strategy
• digital economy
• economic growth
• education expenditures
• innovation
• innovation indicators