Reviewing the development of science parks and their impact on the economy in the context of globalisation

Natalia Hrebennyk (), Svitlana Labunska (), Monika Hudakova (), Viktoriia Litvinova () and Lubica Filipova ()
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Natalia Hrebennyk: Odessa National Economic University, Odessa, Ukraine
Svitlana Labunska: Simon Kuznets Kharkiv National University of Economics, Kharkiv, Ukraine
Monika Hudakova: Bratislava University of Economics and Management, Bratislava, Slovakia
Viktoriia Litvinova: Odessa National Economic University, Odessa, Ukraine
Lubica Filipova: Bratislava University of Economics and Management, Bratislava, Slovakia

Access Journal, 2024, vol. 5, issue 3, 526-550

Abstract: Background: Science parks are of significant consequence within the global innovation ecosystem, facilitating the commercialization of research and contributing to regional economic development. This study aims to analyze the strategic importance and impact of science parks on the economy in the context of globalization, with a focus on both Ukrainian and international experiences. Objectives: The principal aim of the study is to examine the role of science parks in stimulating innovation and their impact on economic development. The main tasks include an analysis of the current state of science parks, an investigation of their impact on the commercialization of university research, and a review of international experience. Methods/Approach: The research methodology is based on a comprehensive review of scientific literature, a quantitative analysis of economic indicators of science parks, and a qualitative analysis, including interviews with key stakeholders. Furthermore, the study employs comparative and scenario analysis to evaluate prospective developments in the field of science parks. Results: The study corroborates the existence of a substantial correlation between the activities undertaken within science parks and the growth of economic indicators, including gross domestic product (GDP) and research and development (R&D) investments. This evidence serves to reinforce the significance of science parks as a catalyst for regional development. Conclusions: Science parks play a pivotal role in advancing national and regional innovation strategies, serving as catalysts for technological innovation and economic diversification. It is recommended that policy initiatives be developed to support the sustainable development and integration of these entities into the global economy.

Keywords: innovation; commercialisation; research and development expenditure; economic growth; university research; innovation ecosystems (search for similar items in EconPapers)
JEL-codes: F63 O31 O32 O34 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:aip:access:v:5:y:2024:i:3:p:526-550

DOI: 10.46656/access.2024.5.3(9)

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