This project aims to analyze the impact of innovation on the economy of countries worldwide.
This project aims to analyze the impact of innovation on the economy of countries worldwide. The data used for this analysis was obtained from various internal & external sources, including the Data provided by Internal sources, OECD Data, and the World Bank (External). The analysis focuses on patent registration as a measure of innovation and seeks to answer two primary questions: which countries are the most innovative during the period of 1990 to 2014, and how does innovation impact a country's GDP, exports, R&D spending and inflation.
The analysis involves data cleaning, merging, and extraction, as well as external data loading, visualization and exploratory analysis using regression analysis. The analysis is guided by two hypotheses: firstly, that there is a positive or significant relationship between innovativeness and a country's GDP, exports, and R&D spending, and secondly, that there is a negative relationship between innovativeness and a country's inflation. The exploratory data analysis includes an assessment of national-level trends in the United States, Japan, and Korea, followed by an analysis of which model in each country's export, inflation, GDP, and R&D spending is most related to innovation.
All analysis was performed on R Studio