Eco-innovations in V4 countries: Comparison from a Global Perspective

Abstract

Research background: Globalization and the associated growing global competition provide incentives for the adoption of new technologies and innovations. In general, innovations could be considered as a dominant driver of the economic growth. However, current environmental challenges and sustainable development support the diffusion of eco-innovations to foster green growth. In terms of its global position, a country is often compared to its neighbouring countries, which are often the most important trading partners in the international market. Purpose of the article: This paper is focused on the evaluation of eco-innovation performance of the V4 countries with emphasis on the Slovak Republic. Methods: The article applies selected indicators of the Global Innovation Index to provide insightful data on countries' eco-innovation performance from the different V4 countries by applying the correlation analysis. Findings & Value added: The results compare the state of selected indicators of innovation within the V4 countries and describe the current position of the Slovak Republic. The results demonstrate the relative strengths within all selected countries in the sub-pillar Ecological Sustainability and significant eco-innovation potential.