Relationship Between Innovation and Economic Growth: A Study on EU Countries

Název práce: Relationship Between Innovation and Economic Growth: A Study on EU Countries
Autor(ka) práce: Gumbeze, Wish
Typ práce: Diploma thesis
Vedoucí práce: Brůna, Karel
Oponenti práce: Šímová, Kateřina
Jazyk práce: English
Abstrakt:
This master's thesis delves into the intricate relationship between innovation and economic growth within the European Union (EU). It centers on examining the interplay among patents (PAT), Gross Domestic Product Growth (GDP), and scientific articles (SCIJ). Employing various statistical methods such as panel regression models, fixed and random effects models, the Hausman test, and the Generalized Method of Moments (GMM), the empirical analysis extends from 2003 to 2020. Organized into three chapters, the study begins with a theoretical evaluation of innovation and economic growth, progressing to scrutinize the innovation system in EU countries. The third chapter unveils empirical research findings gleaned from data originating from 24 EU countries, illuminating the intricate dynamics between innovation and economic growth. Summary statistics offer insights into the distribution and characteristics of variables, highlighting variability and dependencies across different cross-sectional units. The correlation matrix uncovers the strength and direction of relationships among variables, emphasizing both positive and negative associations. The cross-sectional dependence (CD) test accentuates the interconnectedness among countries by rejecting the null hypothesis of independence for all variables. Significant insights into the relationship between GDP growth and independent variables are provided by Pooled OLS regression analysis and Random-Effects (GLS) model results, showcasing both positive and negative associations. Although the Generalized Method of Moments (GMM) models delve deeper into these relationships, concerns arise over the reliability of estimates due to an undefined standard error. The findings underscore the significance of balanced innovation policies and coordinated international efforts in fostering sustainable economic development.
Klíčová slova: Economic growth; Innovation; European Union
Název práce: Relationship Between Innovation and Economic Growth: A Study on EU Countries
Autor(ka) práce: Gumbeze, Wish
Typ práce: Diplomová práce
Vedoucí práce: Brůna, Karel
Oponenti práce: Šímová, Kateřina
Jazyk práce: English
Abstrakt:
This master's thesis delves into the intricate relationship between innovation and economic growth within the European Union (EU). It centers on examining the interplay among patents (PAT), Gross Domestic Product Growth (GDP), and scientific articles (SCIJ). Employing various statistical methods such as panel regression models, fixed and random effects models, the Hausman test, and the Generalized Method of Moments (GMM), the empirical analysis extends from 2003 to 2020. Organized into three chapters, the study begins with a theoretical evaluation of innovation and economic growth, progressing to scrutinize the innovation system in EU countries. The third chapter unveils empirical research findings gleaned from data originating from 24 EU countries, illuminating the intricate dynamics between innovation and economic growth. Summary statistics offer insights into the distribution and characteristics of variables, highlighting variability and dependencies across different cross-sectional units. The correlation matrix uncovers the strength and direction of relationships among variables, emphasizing both positive and negative associations. The cross-sectional dependence (CD) test accentuates the interconnectedness among countries by rejecting the null hypothesis of independence for all variables. Significant insights into the relationship between GDP growth and independent variables are provided by Pooled OLS regression analysis and Random-Effects (GLS) model results, showcasing both positive and negative associations. Although the Generalized Method of Moments (GMM) models delve deeper into these relationships, concerns arise over the reliability of estimates due to an undefined standard error. The findings underscore the significance of balanced innovation policies and coordinated international efforts in fostering sustainable economic development.
Klíčová slova: Innovation; European Union; Economic growth

Informace o studiu

Studijní program / obor: Finance and Accounting
Typ studijního programu: Magisterský studijní program
Přidělovaná hodnost: Ing.
Instituce přidělující hodnost: Vysoká škola ekonomická v Praze
Fakulta: Fakulta financí a účetnictví
Katedra: Katedra měnové teorie a politiky

Informace o odevzdání a obhajobě

Datum zadání práce: 15. 7. 2023
Datum podání práce: 11. 3. 2024
Datum obhajoby: 12. 6. 2024
Identifikátor v systému InSIS: https://insis.vse.cz/zp/85062/podrobnosti

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