Competitiveness of innovation-driven economies: Insights from selected European countries

Abstract

Objective: The aim of this paper is to analyse the role of innovation in competitiveness development and to identify the most competitive European economies. From the perspective of contemporary challenges, the following research question will be considered: How innovations determine development of the most competitive European economies? Research Design & Methods: Besides employing critical literature analysis, the research methods based on quantitative synthesis will also be used. Interpretations are developed through an in-depth comprehensive review of different studies and secondary data analysis. Findings: The results provide valuable insights into how innovations determine development of the most competitive European economies. Measuring competitiveness relies on taking into account both supply-side and demand-side indicators. Based on the GCI both the demand-side as well as the supply-side innovation indicators were identified. Contribution & Value Added: The novelty of the study consists, on the one hand, in developing the conceptual framework for innovative competitiveness that contributes to the shaping of socioeconomic transitions and, on the other hand, in determining the innovation-driven factors of the most competitive European countries.

Keywords

• competition
• competitiveness
• innovation
• innovation-driven economies
• innovative competitiveness
• global competitiveness index