STUDY OF THE RELATIONSHIP BETWEEN ECONOMIC GROWTH, VOLATILITY AND INNOVATION FOR THE EU-27 AND CEEC COUNTRIES

Ovidiu Solomon (), Judita Samuel () and Adam Altăr – Samuel ()
Additional contact information
Ovidiu Solomon: Romanian – American University, Bucharest
Judita Samuel: Romanian – American University, Bucharest
Adam Altăr – Samuel: Romanian – American University, Bucharest

Journal of Information Systems & Operations Management, 2011, vol. 5, issue 1, 82-90

Abstract: The present study applies, along general lines, the methodology used in Ramey&Ramey (1995), and Kroft, Lloyd-Ellis (2002), respectively, to analyze the dependencies between growth, volatility and innovation in the case of the EU-27 and CEEC (new member states from Central and Eastern Europe) countries, respectively. Unlike the above-mentioned papers, which use human capital as proxy for innovation, we use as indicator of innovation the Summary Innovation Index(SII), proposed by the European Innovation Scoreboard (EIS). Using the EVIEWS econometric software, we estimate regressions of the GDP growth rate on its total volatility, as well as on its partial volatilities, split with respect to the phases of the economic cycle. We also estimate regressions of the innovation rate on the GDP growth rate volatilities, as well as regressions of the GDP growth rate on the rate of innovation and the split volatility of the GDP growth rate. We find positive dependencies of the GDP growth rate on its own volatility, as well as on the innovation rate. The sources of the data are EUROSTAT, the National Statistical Institute of Romania (INS), and the European Innovation Scoreboard.

Keywords: growth; volatility; innovation (search for similar items in EconPapers)
Date: 2011
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.rebe.rau.ro/RePEc/rau/jisomg/SP11/JISOM-SP11-A8.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:rau:jisomg:v:5:y:2011:i:1:p:82-90

Access Statistics for this article

More articles in Journal of Information Systems & Operations Management from Romanian-American University Contact information at EDIRC.
Bibliographic data for series maintained by Alex Tabusca ().