Economic growth and innovation: Measurable indicators of economic performance

Abstract

In general, national innovation performance significantly influences the economic growth of a country. For understanding patents as results of innovation process they must be able to enter national economy and influence economic growth rate in terms of gross domestic product. If not, patents may be on the other hand understood as a barrier of competitiveness what means that they slow down national economy and create negative effects. This article deals with the comparison of national innovation performance of selected world countries that are considered as the most advanced in terms of the number of patents and relationships of above mentioned indicators. Discussion part of this study includes the summary of gained results based on previous research activities. The scope of future research focused on consequent factors of innovation performance influencing the economic growth is outlined at the end of the article.