RANKING OF EU COUNTRIES ACCORDING TO INNOVATION POTENTIAL
RANKING OF EU COUNTRIES ACCORDING TO INNOVATION POTENTIAL
Author(s): Milan Marković Subject(s): Economy, National Economy, Economic policy, Socio-Economic Research
Published by: Editura Fundaţiei România de Mâine
Keywords: innovation; research and development (R&D); MOORA (Multi-Objective Optimization on the basis of Ratio Analysis) method; composite index; European Union (EU) countries;
Summary/Abstract: The purpose of the paper is to rank all 27 countries of the European Union (EU) according to selected indicators of innovation potential. In a high-tech society, the main factor of economic development are activities related to research and development (R&D). The author singled out five relevant indicators from the Eurostat database in the assessment of the conditions for innovation development in the EU using the MOORA (Multi-Objective Optimization on the basis of Ratio Analysis) method. Based on the conducted multi-criteria analysis, the author concludes that Germany, Sweden, France and the Netherlands have the best innovation performance, so that these countries are the closest to achieving the goals of a highly competitive economy and sustainable economic development. On the other hand, Romania, Cyprus, Slovakia and Croatia show the weakest innovation potential, followed by other newer EU members
Journal: Annals of Spiru Haret University. Economic Series
- Issue Year: 22/2022
- Issue No: 3
- Page Range: 45-55
- Page Count: 12
- Language: English