Study of the Relationship Between Innovation and Economic Growth

Author:

Say Arem1ORCID,Affes Habib2

Affiliation:

1. Higher Institute of Business Administration of Gafsa, Tunisia

2. Faculty of Economics and Management of Sfax, Tunisia

Abstract

Technological innovation is one of the main determinants of economic growth in a turbulent and dynamic environment. The creation of wealth depends mainly on the competitiveness of the company and its performance, especially if innovation constitutes a strategic priority. The interest of this research aimed to test the impact of innovation on economic growth during the period 1985 to 2019 in Tunisia; more precisely, it highlights, through a theoretical analysis, the link between these innovations and economic growth and the essential role it plays in ensuring economic growth. This research also highlights the contributions of empirical studies that have tested this link. In order to verify this relationship, an econometric model and statistical data were produced with the aim of measuring innovation by the total number of patents. This study shows a significant positive effect of innovation on growth and confirms that innovation is indeed an important cause of growth. These results highlight the importance of promoting and supporting innovation as a key strategy to strengthen business competitiveness and foster economic growth.

Publisher

IGI Global

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