Commercialization of High-Tech Innovations and Economic Growth in The Worldwide Most Innovative Countries

This study aimed to reconfirm the factors that caused the differences from the results of previous studies related to the relationship of R&D expenditures, the number of patent applications high-tech exports and economic growth (GDP). Cause of these differences related to the research objects, observation time and the data choice used. Therefore in this study, the research objects were selected 51 countries listed in the 2018 global innovation index, which are then grouped into high-income countries, upper-middle-income, and lower-middle-income. In addition, there are also three alternative choices of data that are used to represent high-tech export variables and economic growth variables. From the analysis conducted it is found that innovation activities could affect the economic growth of high-income countries in the long term and the short term.