Innovation and productivity: the case of Nordic countries
- Authors: Balashova S.A.1, Abramova A.A.1
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Affiliations:
- Peoples’ Friendship University of Russia (RUDN University)
- Issue: Vol 29, No 1 (2021)
- Pages: 88-98
- Section: INNOVATIONS IN THE MODERN ECONOMY
- URL: https://journals.rcsi.science/2313-2329/article/view/324239
- DOI: https://doi.org/10.22363/2313-2329-2021-29-1-88-98
- ID: 324239
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Abstract
Denmark, Finland, Iceland, Norway, and Sweden form a group of the Nordic countries, considered welfare states and the global leaders in innovative development. The link between the growth rate of total factor productivity and innovative development, controlling such factors as trade openness and prices volatility in commodity markets, is examined. The econometric analysis results show that the relationship between the level of innovative development and the rate of productivity growth is more robust for the Nordic countries than for the EU countries on average. Features of the national innovation systems and financing of R&D in the Nordic countries and factors contributing to the impact of innovation activity on productivity are highlighted.
About the authors
Svetlana A. Balashova
Peoples’ Friendship University of Russia (RUDN University)
Author for correspondence.
Email: balashova-sa@rudn.ru
PhD in Physics and Mathematics, Head of the Department of Economic and Mathematical Modeling of the Faculty of Economics
6 Miklukho-Maklaya St, Moscow, 117198, Russian FederationAnastasia A. Abramova
Peoples’ Friendship University of Russia (RUDN University)
Email: 1032173040@rudn.ru
bachelor of the Department of Economic and Mathematical Modeling of the Faculty of Economics
6 Miklukho-Maklaya St, Moscow, 117198, Russian FederationReferences
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