Innovation as a Key Driver of Competitiveness

Rumen Dobrinsky ()
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Rumen Dobrinsky: United Nations Economic Commission for Europe

No 2008_6, UNECE Annual Report Economic Essays from UNECE

Abstract: This paper examines the link between the issue of competitiveness and innovation and their role in fostering higher living standards. The analysis is carried out at the level of both the firm and the country and then outlines some important policy implications. It appears that the innovative capacity of many of the European emerging markets would be enhanced considerably if the link between knowledge creation and its incorporation into marketable products could be strengthened. In many economies the basic national institutions supporting innovative activities could be improved, and the management of private firms have yet to fully appreciate the importance of innovative activity. The interrelationship between various economic policies, such as those for competition policy which seeks to limit firms’ market power, is also explored; it is found that these other policies often conflict with the objectives of increasing innovation and thus all these policies need to be formulated within a coherent framework that considers all these interactions.

Keywords: Financing for development; innovation; competitiveness; Europe; transition economies; technology investment; R&D (search for similar items in EconPapers)
JEL-codes: D24 L25 O11 O14 O31 O38 (search for similar items in EconPapers)
Pages: 6 pages
Date: 2008-06
References: Add references at CitEc
Citations: View citations in EconPapers (3)

Published in United Nations ECE 2008 Annual Report

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