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https://doi.org/10.33067/SE.3.2023.8
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Innovation Potential in the Western Balkans Relative to the European Union and Selected Neighbouring Countries
Abstract Although Western Balkan economies are still on the list of EU candidates or potential candidate countries, they do have some integration with EU economies. The EU is the leading trading partner of the Western Balkans and is one of the top destinations for the fl ow of people. The Western Balkan econo... view more
Although Western Balkan economies are still on the list of EU candidates or potential candidate countries, they do have some integration with EU economies. The EU is the leading trading partner of the Western Balkans and is one of the top destinations for the fl ow of people. The Western Balkan economies have been trying to address their populations' ongoing emigration (the so-called "brain drain" phenomenon) by implementing targeted economic policies. Since one of the main contributors to economic growth is the ability to create innovation, it is crucial to building innovation potential. The main challenge for innovation policy is to provide a favourable environment for entrepreneurship and economic growth to create jobs. Thus, this paper aims to examine innovation potential - an innovation input - as it creates the conditions needed for innovation development. The results of analysing the data (on research and development spending, human resources, an environment friendly to innovation, and intellectual property rights) indicate that the Western Balkan countries are lagging behind the EU in many aspects of innovation potential, so they should still develop their strategies towards creating higher innovation potential. Thus, they will be able to have a higher level of innovation and, as a result, be more competitive in economic terms.... view less
Classification
Political Economy
Free Keywords
Economic Growth; Innovation Potential; Western Balkans; European Union
Document language
English
Publication Year
2023
Page/Pages
p. 143-156
Journal
Studia Europejskie - Studies in European Affairs, 27 (2023) 3
ISSN
1428-149X
Status
Published Version; peer reviewed