INNOVATION AND COMPETITIVENESS IN THE EUROPEAN UNION (EU)

Abstract

Innovation and competitiveness are crucial for driving economic growth and development in the European Union (EU). This paper delves into how innovation policies impact competitive performance in the EU, assessing the effectiveness of various strategies implemented to promote innovation and enhance competitiveness. Through an extensive review of literature, policy documents, and empirical data, this study identifies the successes and challenges associated with innovation-driven initiatives. The paper concludes by discussing the implications for future research and policy formulation, underscoring the necessity of sustained investment in innovation to secure the EU's global competitive position.