The Impact of Innovation Indicators on Increasing Exports of High Technology Products

Domazet, Ivana and Marjanović, Darko and Ahmetagić, Deniz and Bugarčić, Milica (2021) The Impact of Innovation Indicators on Increasing Exports of High Technology Products. Ekonomika preduzeća, 69 (1-2). pp. 31-40. ISSN 0353-443X

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Abstract

Competitiveness of high-technology products (HTP) is more significant
on the world market than products of medium and low quality. Increase
in the innovation performance should lead to the growth of high
technology application in production consequently rising exports of
HTP as an important factor in increasing competitiveness. In this paper
we wanted to analyze the correlations and conditionality of exports of
HTP (share of exports in total country exports) and selected indicators
that influence innovation: GDP, R&D costs (research and development
cost in four sectors), degree of education of the population, number
of researchers (in four sectors) and global innovation index (GII). The
main aim was to identify which indicators contributed to the growth of
exports of HTP in the analyzed countries (Serbia, Romania, Bulgaria and
Hungary) in the observed period of ten years (2009-2018), in order to
give certain recommendations on the measures and procedures Serbia
should take to increase the level of innovation index and exports of
HTP. In this paper, the exports of HTP was analyzed in Serbia, Romania,
Bulgaria and Hungary. The influence of the chosen indicators on export
of high technology products was analyzed using the POLS model, the
fixed effects model and the random effects model. The results indicate
that if analyzed countries do not find resources to intensify investment
in education and R&D, they will not reach the average EU innovation
indicators for many years. Also, it will seriously harm the competitiveness
of the economies of the observed countries in the conditions dictated
by the modern business environment and the challenges of the fourth
industrial revolution (Industry 4.0).

Item Type:	Article
Additional Information:	COBISS.ID=36849161
Uncontrolled Keywords:	innovation, high technology products, global innovation index, export
Research Department:	Innovation Economics
Depositing User:	Jelena Banovic
Date Deposited:	08 Jul 2021 10:07
Last Modified:	28 Nov 2021 21:46
URI:	http://35.240.28.64/id/eprint/1613
Author Links:	[error in script] No links available.

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