DETERMINANTS OF INNOVATIVE ACTIVITIES CONSERNING SOCIO-ECONOMIC GROWTH

Abstract

The national economy transition to innovative activities, connected with social and economic growth requires considerable determinants, which represent a competitive area for further social and economic growth in the context of globalization. The impacts on innovative activities are considerable in the context of understanding the complexity of social and economic growth within both the national and global level. Despite numerous researches and available achievements in the field of the nature and essence of innovative activities in the context of social and economic growth, there are still a lot of different questions, concerning their determinants. The purpose of the current study is to determine a wide range of approaches to define both innovative activities and socio-economic growth, considering the nature of innovative activities and different determinants on theoretical as well as on the empirical levels. Results from earlier studies demonstrate a strong and consistent association between micro economic determinants and innovative activities. But above mentioned points of views are pretty limited and do not include some important determinants for innovative activities and further socio-economic growth. The current study is different from prior ones. Firstly, it looks at investigated determinants, which influence on the innovative activities and socio-economic growth, empirically. Secondly, it considers for a vast amount of practical approaches, which create the possibility to consider and combine the determinants of innovative activities. Thirdly, this paper investigates the issue associated with innovative activities, connected with social and economic growth nowadays. Thus, the authors provide empirical models, which are developed in accordance with appropriate tendencies in national economy.