Innovation and productivity: the case of Nordic countries

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 pri...

Full description

Bibliographic Details
Published in:RUDN Journal of Economics
Main Authors: Svetlana A. Balashova, Anastasia A. Abramova
Format: Article in Journal/Newspaper
Language:English
Russian
Published: Peoples’ Friendship University of Russia (RUDN University) 2021
Subjects:
total factor productivity
r&d expenditures
nordic countries
innovative development
innovative activity
national innovation system
Economic growth
development
planning
HD72-88
Economics as a science
HB71-74
Norway
Iceland
Online Access:https://doi.org/10.22363/2313-2329-2021-29-1-88-98
https://doaj.org/article/6d8284c552e943e0a1369a9626f315b8
Description
Summary: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 RD in the Nordic countries and factors contributing to the impact of innovation activity on productivity are highlighted.

Similar Items