Technological Innovation as a Factor in Strengthening Economic Sustainability in the Context of Globalization

Inna Sokhan, Maksym Bevz, Viktor Zapadenko, Svitlana Breus and Yuliia Pereguda

Data and Metadata, 2024, vol. 3, .228

Abstract: Introduction: The study explored the impact of global competitiveness and technological progress on enhancing economic sustainability within the framework of globalization. Methods: A comprehensive survey was conducted, gathering data from 210 respondents. Logit regression analysis was used to assess the influence of technological innovation, global competitiveness, and technical progress on sustainability outcomes. Model accuracy was tested using the Receiver Operating Characteristic (ROC) curve. Results: The findings showed that technological innovation increased the likelihood of achieving economic sustainability with an odds ratio of 2.34 (p = 0.003). Global competitiveness also played a significant role, improving sustainability by 1.90 times (p = 0.008). Technical progress positively influenced sustainability, with an odds ratio of 1.62 (p = 0.025). The model's predictive accuracy was validated with an AUC value of 0.82. Conclusions: The study emphasized the importance of fostering technological innovation, strengthening global market participation, and advancing technological capabilities to drive economic sustainability. In line with the Sustainable Development Goals, policymakers and business leaders should prioritize innovation ecosystems and strategic investments in technology to ensure long-term growth and resilience in a globalized economy

Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:dbk:datame:v:3:y:2024:i::p:.228:id:1056294dm2024228

DOI: 10.56294/dm2024.228

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