ASPECTS REGARDING THE CORRELATION BETWEEN THE LEVEL OF RESEARCH FUNDING AND THE INNOVATION INDEX IN THE EU
ASPECTS REGARDING THE CORRELATION BETWEEN THE LEVEL OF RESEARCH FUNDING AND THE INNOVATION INDEX IN THE EU

Summary/Abstract: This study aims to present the role and importance of innovation for the EU’s economic development and to analyze the levels of innovation achieved by member states, as recorded by the Innovation Index – a complex and modern tool for quantifying innovation in the EU. The analysis of the relationship between the Innovation Index and the percentage of GDP allocated to research and development in 2019 based on the Pearson coefficient led to the conclusion that, for most EU countries, there is a clear link between the percentage allocated to research and innovation and the value of the innovation index. The scientific research methodology relies on the following methods used in conjunction: analysis, synthesis, induction, deduction, comparative data processing, time series analysis, tables and graphs method, abstraction and generalization, with the Pearson correlation coefficient calculated using SPSS for Windows.

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