Affiliation:
1. Russian-Armenian University, Yerevan, RA
Abstract
This paper investigates the relationship between innovative development and macroeconomic indicator of GDP per capita in different countries. Using a robust regression model, we analyze how investment in innovation, research and development (R&D) expenditures, and other innovation-related factors contribute to economic growth. Our results show a significant positive correlation between the innovation index and GDP per capita, suggesting that countries that prioritize innovation tend to achieve better economic performance. These findings emphasize the importance of fostering innovation to enhance economic prosperity and provide a roadmap for sustainable growth.
Publisher
Public Institute of Political & Social Research of Blacksea-Caspian Region