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2019 | OriginalPaper | Chapter

A Taxonomy of Country Performance Based on GDP and Innovation Indicators for the Group of Twenty (G20)

Authors : Nezameddin Faghih, Mahshid Sazegar

Published in: Globalization and Development

Publisher: Springer International Publishing

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Abstract

This chapter proposes a taxonomy of country performance based on GDP and innovation indicators within G20 economies. This study considers the impact of GDP on the “development degree” (fi) for the G20 economies and investigates how the development of G20 economies relates to the innovation promotion factors extracted from the Global Innovation Index (GII) indicators, used as the secondary data for the period 2010–2016. Various variables are used, such as population (in millions), GDP (in USD billion), and seven indicators that are extracted from the GII data. Through the evaluation process, the seven indicators are divided into input and output data; five of them are the input data (institutions, human capital and research, infrastructure, market sophistication, and business sophistication), and the other two are the output data (knowledge and technology output and creative output). The taxonomy provides the identification of country performance and presents relevant information to policymakers, who seek to apply effective economic strategies and develop global policies.

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Footnotes
1
G20 countries (Argentina, Australia, Brazil, Canada, China, the European Union, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, the United States).
 
2
GDP (gross domestic product that is the standard measure of the value of the goods and services produced by a country during a reference period).
 
3
The European Union contains 28 of the countries (Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, and the United Kingdom).
 
5
The study group was chaired by Canada, with the participation of Argentina, Australia, Brazil, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, the Russian Federation, South Africa, Turkey, the United States, the United Kingdom, and the European Central Bank, along with the IMF and the three technical notes for G20 GDP, Paris, 15 June 2017 News Release: G20 GDP growth Quarterly National Accounts.
 
6
The OECD (the Organisation for Economic Co-operation and Development countries) is a unique forum where the governments of 30 democracies work together to address the economic, social, and environmental challenges of globalization. The OECD is also at the forefront of efforts to understand and to help governments respond to new developments and concerns, such as corporate governance, the information economy, and the challenges of an aging population. The Organization provides a setting where governments can compare policy experiences, seek answers to common problems, and identify good practice and work to coordinate domestic and international policies.
 
7
See countries notes in the technical analytics notes.
 
8
OECD (2017), Innovation in Energy Technology: Comparing National Innovation Systems at the Sectoral Level.
 
9
Defining the knowledge economy prepared by Ian Brinkley and first published July 2006 ibrinkley@theworkfoundation.com Ian Brinkley.
 
11
North Carolina Department of Commerce Office of Science, Technology & Innovation.
 
Literature
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Sazegar M, Forouharfar A, Hill V, Faghih N (2018) The innovation-based competitive advantage in Oman’s transition to a knowledge-based economy: dynamics of innovation for promotion of entrepreneurship. In: Faghih N, Zali M (eds) Entrepreneurship ecosystem in the Middle East and North Africa (MENA). Contributions to Management Science. Springer, Cham. https://​doi.​org/​10.​1007/​978-3-319-75913-5_​18CrossRef
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Veugelers R, Pottelsberghe BV, Véron N (2012) Lessons from ICT innovative industries: three experts’ positions on financing, IPR and industrial ecosystems (working paper, Publications Office of the European Union, Luxembourg, 2012)
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Metadata
Title
A Taxonomy of Country Performance Based on GDP and Innovation Indicators for the Group of Twenty (G20)
Authors
Nezameddin Faghih
Mahshid Sazegar
Copyright Year
2019
Publisher
Springer International Publishing
Book
Globalization and Development

Print ISBN: 978-3-030-14369-5

Electronic ISBN: 978-3-030-14370-1

Copyright Year: 2019

DOI
https://doi.org/10.1007/978-3-030-14370-1_7