Title
Evaluating innovation-driven economic growth: a case of Jordan
Abstract
The aim of the research was to examine the role of innovation in promoting economic growth in Jordan. Innovation is a key factor for businesses and a significant element of growth. However, in the case of promoting economic growth, its significance differs in terms of region and countries. To explore the innovation-growth link, the study adopted a quantitative approach, using Jordan’s macroeconomic data of 18 years (2000-2017). The data was collected from secondary sources using the World Bank database. It was found in the research that the progress in Jordan in relation to technology and innovation does not contribute to GDP growth. Internet penetration in Jordan increased, but GDP saw a persistent decline. However, patent applications (non-residents) has a significant impact on reducing unemployment in the country. Thus, it is recommended to focus more on innovation in the form of promoting patents to reduce unemployment and propel growth in the country.
Keywords
innovation, economic growth, patent applications, internet, unemployment, Jordan
JEL classifications
O31 , O47
URI
http://jssidoi.org/jesi/article/489
DOI
Pages
1790-1802
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