The effect of innovation on the global economic competitiveness index: a case study of OPEC member countries

The index of global economic competitiveness in different countries shows the ‎potential of countries for production and growth and competition in the world arena. ‎Several factors affect this index. One of these variables is the innovation level of ‎countries, which is measured using the global innovation index. Based on this, this ‎study examines the effect of the global innovation index on the global competitiveness ‎of OPEC member countries during the period of 2010-2022 using panel data. The ‎countries investigated in this study include Iran, Saudi Arabia, Qatar, Kuwait, Iraq, and ‎the UAE. The results of the estimation of the model have shown that the global ‎economic innovation index had a positive and significant effect on the global ‎competitiveness index of countries. Other research results have shown that research and ‎development expenses and the productivity of all production factors have a positive ‎and significant effect on the competitiveness of OPEC member countries. Also, the ‎cross effect of innovation and research and development has a positive and significant ‎effect on the competitiveness of countries.‎The index of global economic competitiveness in different countries shows the ‎potential of countries for production and growth and competition in the world arena. ‎Several factors affect this index. One of these variables is the innovation level of ‎countries, which is measured using the global innovation index. Based on this, this ‎study examines the effect of the global innovation index on the global competitiveness ‎of OPEC member countries during the period of 2010-2022 using panel data. The ‎countries investigated in this study include Iran, Saudi Arabia, Qatar, Kuwait, Iraq, and ‎the UAE. The results of the estimation of the model have shown that the global ‎economic innovation index had a positive and significant effect on the global ‎competitiveness index of countries.