Economic growth of the country and national intellectual capital (evidence from the post-socialist countries of the central and eastern Europe)

  • Received February 19, 2019;
    Accepted March 27, 2019;
    Published April 2, 2019
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  • Article Info
    Volume 17 2019, Issue #1, pp. 348-359
  • Cited by
    13 articles

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This work is licensed under a Creative Commons Attribution 4.0 International License

The purpose of the article is to study the innovation levers of developing the intellectual background for economic growth in two groups of post-socialist Central and Eastern European countries (middle-income and lower-middle-income countries). To achieve that, the quantitative effect of the national intellectual capital components (human capital, market capital, structural capital and capital of renewal and development) on the dynamics of the countries’ economic growth was determined.
For both groups, multiple regressions have been constructed that reflect the quantitative relationship between the economic growth rates (in the regressions – the indicator of real gross domestic product per capita) and the components of national intellectual capital in 2010–2018. It has been established that the key innovative indicator of the economic growth of middle-income countries is the national capital of renewal and development, which in general corresponds to the pan-European model of innovation and investment development. Education is the main factor that provides the basis for the economic growth of lower-middle-income countries. Recommendations on improvement of national innovation policy are offered.

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    • Figure 1. Stages of the study of innovation levers for developing the intellectual basis of countries’ economic growth
    • Table 1. Main indicators of the innovative development of the world’s major economies
    • Table 2. Indicators characterizing the components of national intellectual capital
    • Table 3. Dynamics of real per capita GDP in post-socialist Central and Eastern European countries
    • Table 4. Relationship between the dynamics of economic growth and the national intellectual capital components in the Central and Eastern European post-socialist countries