Statistical Study of the Effect of Internal and External Innovation

Innovational activity and the economics of innovations attracts the interest of researchers since the early XX century. During the last decades the sustainable economic growth is reported to be strongly correlated to the volume of innovational technologies and products generated in business and governmental structures. The popular opinion is that in global economy both incremental and radical increase in competitive advantage is purely related to the efficiency of innovations. In this context it is important to provide a research on how do innovations affect business and global economy. The main focus of this project is the statistical analysis and study of the background of the internal and external effects of the innovations. Describing the data and submitting relevant models are the key scopes of this paper. An important part is also the creation of theoretical fundamentals to supplement the statistical study with the economic base. An additional accent of the project is the research of the factors and potential of Research and Development (R&D). The final part is dedicated to the verification of the acquired analysis results using the economic theory and international innovation indicators.