Effect of innovation in country competitiveness

Abstract

As the notions of competitiveness and innovation in everyday life are increasingly bound with each other, there is a need to examine the dependence and influence of these things on our daily lives. The purpose of this article is to evaluate the impact of innovations on the country’s competitiveness. The model of correlation and linear regression analysis analyzes the influence of the six independent variables on the overall competitiveness of the country, whose reports are presented annually by the World Economic Forum. The results of the research showed that the greatest influence on the competitiveness of the general country in terms of innovation makes the capacity for innovation and the company’s spending on R&D.