Impact of innovation on economic growth theoretical reflection of the Nexis between the two concepts

Abstract

Nowadays, the economic environment characterized by fierce competition and an increasingly demanding clientele, innovation is more vital for the success of companies.

In addition, innovation, due to its importance, is appearing more and more on the entrepreneur’s agenda, as they need to stand out in order to survive.  Because of innovation can give them advantages, improving his productivity, his growth and his profitability.

This article aims to show the impact of innovation and investment in R&D on economic growth, more specifically it highlights through a theoretical analysis the link between innovation and economic growth and the crucial role it plays in ensuring sustainable and inclusive economic growth for nations.

Specifically, the paper reviews the literature on the treatment of the impact of innovation on economic growth, while studying the main theoretical currents. The article also reviews the contributions of empirical studies that have tested the link between innovation and economic growth.