Template-Type: ReDIF-Article 1.0
Author-Name: Tokar, Volodymyr
Author-Name-First: Volodymyr
Author-Name-Last: Tokar
Author-Email: tokarww@ukr.net
Author-Workplace-Name: State University of Trade and Economics, Kyiv, Ukraine
Author-Name: Tyshchenko, Dmytro
Author-Name-First: Dmytro
Author-Name-Last: Tyshchenko
Author-Email: tyshchenko_d@knute.edu.ua
Author-Workplace-Name: State University of Trade and Economics, Kyiv, Ukraine
Author-Name: Franchuk, Tamara
Author-Name-First: Tamara
Author-Name-Last: Franchuk
Author-Email: franchuk@nasoa.edu.ua
Author-Workplace-Name: National Academy of Statistics, Kyiv, Ukraine
Author-Name: Babenko, Artem
Author-Name-First: Artem
Author-Name-Last: Babenko
Author-Email: artem_babenko@kneu.edu.ua
Author-Workplace-Name: Kyiv National Economic University Named After Vadym Hetman, Kyiv, Ukraine
Author-Name: Koval, Ihor
Author-Name-First: Ihor
Author-Name-Last: Koval
Author-Email: kovalvf@gmail.com
Author-Workplace-Name: T.H. Shevchenko National University "Chernihiv Colehium", Chernihiv, Ukraine
Title: Assessing EU Member States' Readiness for Innovation Parks: Financial and R&D Perspectives
Abstract: This article examines the readiness of EU member states to establish innovation parks by evaluating gross domestic expenditure on research and development (GERD) and the proportion of R&D personnel within the labor force. Utilizing k-means clustering, the research categorizes EU countries into three clusters based on GERD and R&D personnel metrics, allowing for a nuanced assessment of innovation potential. The analysis reveals significant disparities among EU member states, with Austria, Belgium, Denmark, Finland, Germany, and Sweden exhibiting the highest readiness for innovation parks, while others, such as Bulgaria and Romania, face substantial challenges due to limited R&D investment and workforce. This study focuses solely on GERD and R&D personnel, excluding other factors such as government policy or sectoral distinctions. Future research could integrate these elements for a more comprehensive analysis. Insights from this research can guide policymakers in tailoring interventions to enhance R&D funding and workforce development, particularly in underprepared regions. This study contributes to understanding EU innovation readiness by providing a comparative analysis based on financial and human capital, offering a novel clustering approach to assess innovation park potential across diverse EU contexts.
Keywords: Cluster Analysis, European Union, Innovation Parks, Innovation Ecosystems, Knowledge Economy
Journal: International Journal of Economics and Financial Issues
Pages: 311-319
Volume: 15
Issue: 3
Year: 2025
Month: 04
DOI: 10.32479/ijefi.18689
File-URL: https://econjournals.com/index.php/ijefi/article/download/18689/8842
File-Format: application/pdf
Handle: RePEc:eco:journ1:v:15:y:2025:i:3:id:18689