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REALIZING INNOVATION-DRIVEN ECONOMIC GROWTH: CASE STUDIES FROM AZERBAIJAN, TURKIYE, AND GEORGIA

Year 2025, Volume: 13 Issue: 1 , 26 - 40 , 08.07.2025
https://izlik.org/JA33FY44KC

Abstract

This study explores the pathways and mechanisms through which innovation drives economic growth in Azerbaijan, Turkiye, and Georgia. Utilizing data from both national and international sources, including the State Statistical Committee of the Republic of Azerbaijan, the National Statistics Office of Georgia, the Turkish Statistical Institute, the Global Innovation Index, the World Bank, the IMF, and the OECD, the analysis focuses on a wide range of macroeconomic and innovation-related indicators to assess the role of innovation in economic transformation.
The study emphasizes the importance of key factors such as GDP (PPP), GDP per capita, labour productivity, R&D expenditure, patent output, high-tech manufacturing and exports, ICT services exports, education spending, tertiary enrolment rates, and the share of science and engineering graduates in driving long-term economic growth. A comparative approach is employed to highlight the distinct development trajectories of the three countries while identifying shared challenges and opportunities for innovation-led transformation.
Key findings suggest that innovation plays a critical role in fostering economic diversification and competitiveness in these countries. The study underscores the need for coordinated policy measures and investments in human capital, infrastructure, and research and development to build sustainable innovation ecosystems. Insights from this research offer valuable guidance for policymakers, business leaders, and academic institutions in enhancing the innovation capacity of Azerbaijan, Turkiye, and Georgia.
Furthermore, the study calls for future research that includes empirical case studies and quantitative assessments to further evaluate the practical impact of innovation on economic growth. By providing a comparative analysis of innovation-driven economic transformation, this research contributes to the academic and policy discussions surrounding sustainable development in the South Caucasus and Turkiye.

References

  • Aghion, P., & Howitt, P. (2009). The economics of growth. MIT Press. https://www.scirp.org/reference/ referencespapers?referenceid=2149878
  • Åslund, A. (2013). Why growth in emerging economies is likely to fall (Working Paper Series WP13-10). Peterson Institute for International Economics.
  • Castellacci, F., & Natera, J. M. (2020). Innovation and economic growth: Evidence from panel cointegration analysis. Research Policy, 49(1), 103910. https://doi.org/10.1016/j.respol.2019.103910
  • Chesbrough, H. W. (2003). Open innovation: The new imperative for creating and profiting from technology. Harvard Business School Press.
  • Comin, D., & Hobijn, B. (2010). Technology diffusion and postwar growth. In P. Aghion & S. N. Durlauf (Eds.), Handbook of economic growth (Vol. 2, pp. 565–622). Elsevier.
  • Crescenzi, R., Gagliardi, L., & Iammarino, S. (2020). Innovation and regional growth in Europe: A spatial econometric approach. Regional Studies, 54(9), 1271–1283. https://doi.org/10.1080/00343404.2020.1724167
  • Crespi, G., & Zuniga, P. (2022). Innovation and productivity: The role of firm capabilities in Latin America. Journal of Economic Surveys, 36(4), 1157–1185. https://doi.org/10.1111/joes.12481
  • European Bank for Reconstruction and Development. (2018). EBRD. https://www.ebrd.com/home.html#
  • Freeman, C. (1995). The national system of innovation in historical perspective. Cambridge Journal of Economics, 19(1), 5–24.
  • Gelb, A., & Grasmann, S. (2010). How should oil exporters spend their rents? (Center for Global Development Working Paper 221). Center for Global Development.
  • Ghosh, S., & Koirala, B. P. (2021). Digitalization and economic growth in South Asia. Economic Modelling, 96, 447–455. https://doi.org/10.1016/j.econmod.2021.01.004
  • Lee, K., & Malerba, F. (2021). Catch-up cycles and sectoral innovation systems: A comparative perspective. Research Policy, 50(3), 104154. https://doi.org/10.1016/j.respol.2020.104154
  • National Statistics Office of Georgia. (2023–2024). Science. https://www.geostat.ge/en/modules/categories/763/science
  • Ndulu, B. J. (2007). Challenges of African growth: Opportunities, constraints, and strategic directions. World Bank Publications.
  • Organisation for Economic Co-operation and Development. (2015). Frascati manual 2015: Guidelines for collecting and reporting data on research and experimental development. https://www.oecd.org/en/publications/2015/10/frascati-manual-2015_g1g57dcb.html
  • Radosevic, S. (2017). Assessing EU smart specialization policy in a comparative perspective. In S. Radosevic, A. Curaj, R. Gheorghiu, L. Andreescu, & I. Wade (Eds.), Advances in the theory and practice of smart specialization (pp. 1–36). Academic Press.
  • Romer, P. M. (1990). Endogenous technological change. Journal of Political Economy, 98(5), S71–S102. http://www.jstor.org/stable/2937632
  • Solow, R. M. (1957). Technical change and the aggregate production function. The Review of Economics and Statistics, 39(3), 312–320. https://doi.org/10.2307/1926047
  • State Statistical Committee of the Republic of Azerbaijan. (2023–2024). Main indicators of science. https://www.stat.gov.az/source/education/?lang=en#
  • Turkish Statistical Institute. (2023). Central government budget appropriations and outlays on R&D, 2023. https://www.ulickon.org/my-submission
  • United Nations Conference on Trade and Development. (2019). Annual report 2019. https://unctad.org/annualreport/2019/Pages/index.html
  • World Bank. (2020). Digital transformation. https://www.worldbank.org/en/topic/digital World Economic Forum. (2018). World Economic Forum annual meeting. https://www.weforum.org/meetings/world-economic-forum-annual-meeting-2018/

İNOVASYON ODAKLI EKONOMİK BÜYÜMENİN GERÇEKLEŞTİRİLMESİ: AZERBAYCAN, TÜRKİYE VE GÜRCİSTAN ÖRNEKLERİ

Year 2025, Volume: 13 Issue: 1 , 26 - 40 , 08.07.2025
https://izlik.org/JA33FY44KC

Abstract

Bu çalışma, Azerbaycan, Türkiye ve Gürcistan’da inovasyonun ekonomik büyümeyi nasıl yönlendirdiğini ortaya koyan yolları ve mekanizmaları incelemektedir. Azerbaycan Cumhuriyeti Devlet İstatistik Komitesi, Gürcistan Ulusal İstatistik Ofisi, Türkiye İstatistik Kurumu, Küresel İnovasyon Endeksi, Dünya Bankası, IMF ve OECD gibi ulusal ve uluslararası kaynaklardan elde edilen veriler kullanılarak yapılan analiz, ekonomik dönüşümde inovasyonun rolünü değerlendirmek amacıyla geniş bir makroekonomik ve inovasyona ilişkin gösterge yelpazesine odaklanmaktadır.
Çalışma, uzun vadeli ekonomik büyümeyi teşvik eden temel faktörler olarak satın alma gücü paritesine göre Gayri Safi Yurtiçi Hasıla (GSYH), kişi başına düşen GSYH, iş gücü verimliliği, Araştırma ve geliştirme harcamaları, patent çıktısı, yüksek teknoloji imalatı ve ihracatı, bilgi ve iletişim teknolojileri hizmetleri ihracatı, eğitim harcamaları, yükseköğretim kayıt oranları ile fen ve mühendislik mezunlarının payının önemini vurgulamaktadır. Karşılaştırmalı bir yaklaşım benimsenerek, üç ülkenin farklı kalkınma yolları öne çıkarılmakta; aynı zamanda inovasyona dayalı dönüşüm için ortak zorluklar ve fırsatlar belirlenmektedir.
Elde edilen bulgular, inovasyonun bu ülkelerde ekonomik çeşitliliği ve rekabetçiliği artırmada kritik bir rol oynadığını göstermektedir. Çalışma, sürdürülebilir inovasyon ekosistemleri inşa edebilmek için insan sermayesine, altyapıya ve Ar-Ge faaliyetlerine yönelik koordineli politika önlemleri ve yatırımların gerekliliğinin altını çizmektedir. Bu araştırmadan elde edilen bulgular, Azerbaycan, Türkiye ve Gürcistan'ın inovasyon kapasitesini güçlendirmede politika yapıcılar, iş dünyası liderleri ve akademik kurumlar için değerli bir rehber niteliğindedir.
Ayrıca, çalışmada inovasyonun ekonomik büyüme üzerindeki somut etkisinin daha derinlemesine değerlendirilebilmesi için ampirik vaka analizlerini ve nicel değerlendirmeleri içeren gelecekteki araştırmalara ihtiyaç olduğu vurgulanmaktadır.

References

  • Aghion, P., & Howitt, P. (2009). The economics of growth. MIT Press. https://www.scirp.org/reference/ referencespapers?referenceid=2149878
  • Åslund, A. (2013). Why growth in emerging economies is likely to fall (Working Paper Series WP13-10). Peterson Institute for International Economics.
  • Castellacci, F., & Natera, J. M. (2020). Innovation and economic growth: Evidence from panel cointegration analysis. Research Policy, 49(1), 103910. https://doi.org/10.1016/j.respol.2019.103910
  • Chesbrough, H. W. (2003). Open innovation: The new imperative for creating and profiting from technology. Harvard Business School Press.
  • Comin, D., & Hobijn, B. (2010). Technology diffusion and postwar growth. In P. Aghion & S. N. Durlauf (Eds.), Handbook of economic growth (Vol. 2, pp. 565–622). Elsevier.
  • Crescenzi, R., Gagliardi, L., & Iammarino, S. (2020). Innovation and regional growth in Europe: A spatial econometric approach. Regional Studies, 54(9), 1271–1283. https://doi.org/10.1080/00343404.2020.1724167
  • Crespi, G., & Zuniga, P. (2022). Innovation and productivity: The role of firm capabilities in Latin America. Journal of Economic Surveys, 36(4), 1157–1185. https://doi.org/10.1111/joes.12481
  • European Bank for Reconstruction and Development. (2018). EBRD. https://www.ebrd.com/home.html#
  • Freeman, C. (1995). The national system of innovation in historical perspective. Cambridge Journal of Economics, 19(1), 5–24.
  • Gelb, A., & Grasmann, S. (2010). How should oil exporters spend their rents? (Center for Global Development Working Paper 221). Center for Global Development.
  • Ghosh, S., & Koirala, B. P. (2021). Digitalization and economic growth in South Asia. Economic Modelling, 96, 447–455. https://doi.org/10.1016/j.econmod.2021.01.004
  • Lee, K., & Malerba, F. (2021). Catch-up cycles and sectoral innovation systems: A comparative perspective. Research Policy, 50(3), 104154. https://doi.org/10.1016/j.respol.2020.104154
  • National Statistics Office of Georgia. (2023–2024). Science. https://www.geostat.ge/en/modules/categories/763/science
  • Ndulu, B. J. (2007). Challenges of African growth: Opportunities, constraints, and strategic directions. World Bank Publications.
  • Organisation for Economic Co-operation and Development. (2015). Frascati manual 2015: Guidelines for collecting and reporting data on research and experimental development. https://www.oecd.org/en/publications/2015/10/frascati-manual-2015_g1g57dcb.html
  • Radosevic, S. (2017). Assessing EU smart specialization policy in a comparative perspective. In S. Radosevic, A. Curaj, R. Gheorghiu, L. Andreescu, & I. Wade (Eds.), Advances in the theory and practice of smart specialization (pp. 1–36). Academic Press.
  • Romer, P. M. (1990). Endogenous technological change. Journal of Political Economy, 98(5), S71–S102. http://www.jstor.org/stable/2937632
  • Solow, R. M. (1957). Technical change and the aggregate production function. The Review of Economics and Statistics, 39(3), 312–320. https://doi.org/10.2307/1926047
  • State Statistical Committee of the Republic of Azerbaijan. (2023–2024). Main indicators of science. https://www.stat.gov.az/source/education/?lang=en#
  • Turkish Statistical Institute. (2023). Central government budget appropriations and outlays on R&D, 2023. https://www.ulickon.org/my-submission
  • United Nations Conference on Trade and Development. (2019). Annual report 2019. https://unctad.org/annualreport/2019/Pages/index.html
  • World Bank. (2020). Digital transformation. https://www.worldbank.org/en/topic/digital World Economic Forum. (2018). World Economic Forum annual meeting. https://www.weforum.org/meetings/world-economic-forum-annual-meeting-2018/
There are 22 citations in total.

Details

Primary Language English
Subjects Growth
Journal Section Research Article
Authors

Namig Abbasov 0000-0002-5196-0488

Submission Date May 13, 2025
Acceptance Date July 8, 2025
Publication Date July 8, 2025
IZ https://izlik.org/JA33FY44KC
Published in Issue Year 2025 Volume: 13 Issue: 1

Cite

APA Abbasov, N. (2025). REALIZING INNOVATION-DRIVEN ECONOMIC GROWTH: CASE STUDIES FROM AZERBAIJAN, TURKIYE, AND GEORGIA. Journal of International Management Educational and Economics Perspectives, 13(1), 26-40. https://izlik.org/JA33FY44KC