Abstract

This article summarizes the arguments and counterarguments within the scientific debate on determining innovative determinants for ensuring a country’s economic security. The article summarizes the scientific approaches to determining the country’s economic security’s essence and components. Based on the generalization of existing developments, a set of the most relevant indicators for the quantitative assessment of the state’s economic security was formed. It took into account budgetary, debt, investment, and other dimensions. All partial indicators of the formation of the integral indicator of the state’s economic security were normalized using the minimax method. Integration of partial indicators was carried out based on additive convolution. A set of indicators characterizing the state’s innovative potential was formed to determine innovative drivers and inhibitors of ensuring the state’s economic security. Determining the influence of innovative parameters on the state’s economic security was carried out using the PMG toolkit in the Stata 12/SE software product. It allowed formalizing innovative determinants affecting the state’s economic security in short- (up to 1 year) and long-term (over 1 year) perspectives. For those variables for which the existence of a long-term relationship was established, an in-depth study was conducted using distributional-lag modelling. It allowed identifying specific time lags in the lateness of the response of the integral indicator of the state’s economic security to the impact of innovative determinants. The research was conducted in 11 countries, including Azerbaijan, Belarus, Estonia, Georgia, Kazakhstan, Kyrgyzstan, Latvia, Lithuania, Poland, Romania, and Ukraine. The time horizon of the study covers the period 2005-2020 (or the latest available period). The research results could be useful to scientists, state authorities, and local governments.

Keywords: country economic security, innovative determinants, sustainable public administration, panel data, distributive-lag modelling.

JEL Classification: C33, E61, F52, O11, O30.

Cite as: Eyvazov, E., Balabeyova, N., Aslanova, M., Hajiyeva, A., & Muradova, K (2022). The Role of Innovative Determinants in Ensuring the Economic Security of the State Marketing and Management of Innovations, 3, 149-158. https://doi.org/10.21272/mmi.2022.3-13

This work is licensed under a Creative Commons Attribution 4.0 International License

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