Analysis of The Domestic and International Innovation Market Considering the Impact of COVID-19

Valentina Moskalenko, Chernihiv Polytechnic National University
2022 Modern Economics  
Abstract. Introduction. The new virus of the XXI century has attracted considerable attention from scientists due to the current state of the world economy and the processes taking place under the influence of COVID-19. Purpose. Investigate the impact of COVID-19 on the innovation market in Ukraine and the Republic of Slovenia by using data from the State Statistics Service of Ukraine and statistical data of the Republic of Slovenia from December 2019 to December 2021. Identify the causal links
more » ... between the number of diseases and the socio-economic indicators of countries. This study systematizes the criteria affected by the global COVID-19 pandemic in the innovation aspect of each of them to identify possible correlations between selected determinants and answer questions about expanding socio-economic development of Ukraine. Results. An analysis was conducted to identify a correlation between the number of diseases on COVID-19 and the CPI. Indicators were selected from March 2020 to January 2021. In this study, we can observe a nonlinear correlation between the CPI and the number of cases of COVID-19 in 2020. The study found out what changes have taken place in the innovation market, considering the impact of the global pandemic and how these changes differ in Ukraine and the Republic of Slovenia. The next step was investigating the relationship between selected variables in Ukraine and the Republic of Slovenia. The authors also analyzed funding indicators for innovative developments in the knowledge-intensive industry of Ukraine and the Republic of Slovenia. Results have shown that the Republic of Slovenia allocates at least 1% of the country's GDP to R&D funding. Also, Slovenia has more funding than Ukraine, based on the percentage of GDP. The results of the commercial sector show that 55.1% more active enterprises in Ukraine than in Slovenia, despite the reduction in the number of active enterprises during the global pandemic. Conclusions. We analyzed the relationship between the number of officially registered COVID-19 cases and the consumer price index by Pearson's correlation analysis. As a result, we can remark a correlation between the above variables, although the correlation coefficient remains not so high.
doi:10.31521/modecon.v33(2022)-09 fatcat:xj5blcwf5zhonejac2kvj3evby