The Consequences of COVID-19 Disruption on Sustainable Economy in the Top 30 High-Tech Innovative Countries

Muhammad Ikram and Youssef Sayagh
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Youssef Sayagh: Al Akhawayn University in Ifrane

Global Journal of Flexible Systems Management, 2023, vol. 24, issue 2, No 6, 247-269

Abstract: Abstract This study aims to investigate the effects of the COVID-19 pandemic on the innovation index, Gross Domestic Product (GDP), high technology exports, and human development (HDI) in the world's leading 30 high-tech innovative countries. Using grey relational analysis models, the association between COVID-19 and other economic development indices was investigated. The model selects the country least affected by the pandemic from the top 30 innovative countries through a conservative (maximin) method based on grey association values. Data was collected from World Bank databases and analyzed to compare pre- and post-COVID-19 periods (2019, 2020). The outcomes of this study provide essential recommendations for industries and decision-makers with suitable action plans to preserve economic systems from further harm caused by the global COVID-19 outbreak. The ultimate goal is to boost the innovation index, GDP, high-tech exports, and HDI of high-tech economies and pave the way for a sustainable economy. To the author's knowledge, this is the first study to develop a multidimensional framework to assess COVID-19's impact on the sustainable economy of top 30 high-tech innovative countries, and to conduct a comparative analysis to identify the strong and weak effects of COVID-19 on sustainable economic growth.

Keywords: Covid-19; Economic sustainability; Exports of high technology; Gross domestic product (GDP); High-tech innovative countries; Human development index (HDI) (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/s40171-023-00338-z

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