A Multi-Dimensional Framework for Innovation-Driven Economic Growth in Emerging Markets

Abstract

Innovation remains one of the most important aspects for driving growth in struggling emerging economies, largely because they are accompanied with integrating advancements, under developed structures, and sub optimal institutions. This paper proposes to advance innovation focused genomic growth by creating a framework which incorporates intech, institutional system, development of men power, and financing. The effectiveness of the proposed framework is tested using both quantitative techniques through econometric modeling and qualitative approaches through case studies in some selected emerging economies and measuring their productivity, competitiveness, and sustainable growth. The research findings show that a holistic approach to innovation turns out to be more productive and enhance economic growth more than the previous mono factor models. The gained knowledge enhances the strategies available for innovation focused growth.