Analysis of Innovation Effectiveness, Efficiency and Productivity Performance of European Union Countries

The concept of innovation is of great importance not only for businesses and other organizations, but also for countries. Because innovation concept has multiple network structure with science, art, technology, health and social dimensions, innovation can provide countries to develop and change according to the situation. The innovation performance of countries should be evaluated not only with the global innovation index values of the countries, but also with the innovation effectiveness, efficiency and productivity performances of the countries. Because it is important to provide optimal innovation performance within the framework of cost analysis in the relationships between innovation inputs and outputs. In this context, the primary purpose of the research is to determine the importance levels (weighting coefficients) of the components that make up the global innovation input and output subdirectories according to the European Union countries. The other aims of the research is to determine the innovation effectiveness, efficiency and productivity performance values of the European Union countries. Based on the findings, it has been determined that the most important innovation component according to the countries is the creative output. Again, according to the findings, the three countries with the highest innovation effectiveness are Sweden, the Netherlands and the UK, the three countries with the highest innovation efficiency are Slovekya, Hungary and Luxembourg, and the three with the highest innovation productivity are Greece, Austria and Portugal. The research found that the rankings of innovation effectiveness, efficiency and productivity performance values of most countries are not consistent with each other. Therefore, this shows that the concepts of innovation effectiveness, effectiveness and productivity differ from each other.

Keywords

Innovation, Global Innovation Index, Effectiveness, Efficiency, Productivity.