The impact of innovations and intellectualisation on sustainable national development

Анотація

Innovations are an integral part of the modern global economy. The purpose of this research is to investigate impact of innovations and intellectualisation on sustainable national development. Based on the World Bank sets, two models with panel data from selected economies (Bulgaria, the Czech Republic, Hungary, Kazakhstan, Poland, Romania, Moldova, the Slovak Republic, Ukraine and Uzbekistan) in 2006-2018 were built. Using random-effects GLS regression it was proved that factors of intellectualisation and innovations (both exogenous and endogenous) increase the level of economic growth. Empirical results proved that intellectualisation of the economy of endogenous origin is one of the stimulators of improving the environmental situation (when there is an increase in the number of researchers in the country by 100 people, the amount of carbon dioxide per capita decreases by 84-131 kg), while exogenous intellectualisation turned out to be a statistically insignificant factor. The paper proved several decarbonisation drivers, which include energy efficiency and life expectancy. Following the results, policy recommendations were provided and indicated the importance of national education development and innovation fostering. This can be achieved by revising learning standards according to market requirements, retraining educators and using a competence-based approach.

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