Spending on Innovation as a Factor of Competitiveness of Market Economies

Abstract

International competitiveness is frequent topic in the world’s economic literature. Nowadays, attention is also drawn to the efficiency of the economy in addition to a comparative analysis of economies. The paper presents different approaches of competitiveness and efficiency of the economy and their measurement. The study carried out an analysis of one of the major factors of competitiveness of economies—innovation. Calculations were performed using the method of DEA.