Evaluating the National Innovation Systems of EU Countries through Innovation Indicators

Larysa Antoniuk, Larysa Ligonenko, Denys Ilnytskyy and Olha Denisova
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Larysa Antoniuk: Kyiv National Economic University, Kyiv, Ukraine
Larysa Ligonenko: Kyiv National Economic University, Kyiv, Ukraine
Denys Ilnytskyy: Kyiv National Economic University, Kyiv, Ukraine
Olha Denisova: Kyiv National Economic University, Kyiv, Ukraine

PROCEEDINGS OF THE INTERNATIONAL CONFERENCE ON ECONOMICS AND SOCIAL SCIENCES, 2024, vol. 6, issue 1, 744-758

Abstract: The innovative capacity of a nation is crucial for effectively achieving the sustainable development goals. The European Union exemplifies leadership in this domain through the implementation of comprehensive technological, financial, and regulatory strategies at the supranational, national, and regional governance levels. These practices provide invaluable insights for developing countries seeking to enhance their innovation processes. Moreover, the EU represents a unique case for analysing national innovation systems (NIS) due to its diverse policies and the differing levels of integration among its member states. The research was based on the analysis of complex innovation indicators and indices, which have gained wide recognition and are used for benchmarking. To determine the key factors that shape a country's innovation potential, we undertake graph visualisation and techniques of structural analysis of the European Innovation Scoreboard, and propose an alternative methodology to assess the innovation potential by constructing the European Index of Innovation Potential. This analysis enables the evaluation and comparison of innovation capabilities, simultaneously validating the innovative achievements of leading nations and providing a strategic framework for identifying potential directions to enhance innovation opportunities. Building on these findings, and incorporating alternative analytical approaches, a new methodological framework has been developed for assessing the innovation capabilities of EU countries. This framework aims to delineate the strengths and weaknesses of their national innovation ecosystems. By utilising cluster and taxonomic analysis, it maps EU countries in terms of their innovation potential and achievements. Strategic recommendations have been formulated based on these results to craft national strategies and roadmaps for fostering innovative ecosystems and leveraging innovation as a means to achieve more sustainable development.

Keywords: national innovation systems; innovation indices; benchmarking; leadership; sustainability; digitalisation. (search for similar items in EconPapers)
JEL-codes: O32 O52 (search for similar items in EconPapers)
Date: 2024
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