PATTERNS OF INFLUENCE OF STAKEHOLDERS’ INTERACTION OF THE EDUCATION, SCIENCE AND BUSINESS IN THE INNOVATION ECONOMY ON THE COMPETITIVENESS AND SUSTAINABLE DEVELOPMENT OF THE COUNTRY
Keywords:
sustainable development, competitiveness, stakeholder, education, science, business, innovative economy, cause and effect.Abstract
Ostapenko V.M. PATTERNS OF INFLUENCE OF STAKEHOLDERS’ INTERACTION OF THE EDUCATION, SCIENCE AND BUSINESS IN THE INNOVATION ECONOMY ON THE COMPETITIVENESS AND SUSTAINABLE DEVELOPMENT OF THE COUNTRY
Purpose. The aim of the study is to prove the necessity of stakeholder interaction of education, science and business (Sesb) in the innovation economy and to determine its impact on the country's competitiveness and sustainable development.
Methodology of research. The results of the Shapiro-Wilk and Kolmogorov-Smirnov tests are used to confirm/refute the normal distribution of data. The correlation coefficients are calculated using the Spearman method in the absence of a normal distribution of data, taking into account time lags. Causal relationships and directions of influence of the stakeholder interaction of education, science and business in the innovation economy on competitiveness and sustainable development in all countries and separately by income level are identified on the basis of correlation and regression analysis in Statistica software. According to the results of the vector autoregression, a Granger causality test was performed using the eViews tool, which allows identifying signs of casualness and determining causality.
Findings. The components of the innovation economy (business, knowledge and technology/science) that have a positive impact on the competitiveness and sustainable development of the state are identified. In particular, strengthening the stakeholder interaction of education, science and business in the innovation economy contributes to an increase in the level of competitiveness and sustainable development, as well as an increase in the level of competitiveness and sustainable development contributes to strengthening the stakeholder interaction of education, science and business in the innovation economy, which confirms the expediency of establishing and strengthening interaction between business structures, educational and scientific institutions to ensure an innovative economy that will lead to a level of competitiveness and sustainable development.
Originality. The regularities of stakeholder interaction of education, science and business in the innovation economy with competitiveness and sustainable development of countries were determined in the article. Such patterns, unlike the existing ones, are formed on the basis of direct and reverse relationships using econometric models based on multiple regression, vector autoregression and Granger causality testing, which allowed to substantiate the growth factors and assess Ukraine's readiness for the revival and transformation of the innovation economy on the basis of stakeholder interaction of education, science and business in the innovation economy.
Practical value. It is proved the causal relationships between the components of the innovation economy, such as business development and results in the field of knowledge and technology, and the levels of competitiveness and sustainable development of countries. Therefore, it is advisable to use these components in the further development of directions for increasing the stakeholder interaction of education, science and business in the innovation economy.
Key words: sustainable development, competitiveness, stakeholder, education, science, business, innovative economy, cause and effect.
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