Impact of government open data initiatives on innovation, entrepreneurship, and economic growth
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https://orcid.org/0009-0004-0333-6658
Leyla Hajiyeva
https://orcid.org/0000-0002-5186-5587
Hijran Muradova
https://orcid.org/0000-0001-5128-9412
Lamiya Huseynova
https://orcid.org/0000-0003-4633-6493
Abstract
Purpose: The study aims to assess the benefits of using econometric methods to analyse the impact of government initiatives on innovation development, entrepreneurship and economic growth. The study analysed the impact of government support on innovation strategies, start-ups, entrepreneurship, and economic growth in countries such as the United States, the European Union (Switzerland, the Netherlands, Germany, Denmark, and France), Japan, South Korea, India, and China, accounting for regional and cultural specifics.
Methodology: The methodological approach was based on the analysis of data from official sources, in particular, government websites, as well as reports and analytical materials of international publications. Econometric methods, such as regression and correlation analysis, were used to determine that an increase in gross domestic product per capita is accompanied by an increase in the innovation index, while research and development (R&D) expenditure has an insignificant relationship with the innovation index, demonstrating the benefits of using econometrics.
Findings: The study demonstrated that the Small Business Innovation Research and Small Business Technology Transfer programmes in the US, Horizon Europe in the European Union, and the Creative Economy Initiative in South Korea are highly effective. The study determined that the Startup India Programmes in India and Made in China 2025 in China contributed to the creation of a favourable regulatory environment and provided tax incentives, which had a positive impact on the development of entrepreneurship and innovation. Recommendations on the use of econometric methods to assess the impact of government support on innovation and entrepreneurship, improving financial support for start-ups, enhancing educational programmes for entrepreneurs, promoting cross-sectoral cooperation, and optimising the regulatory environment, were made.
Originality: This study breaks new ground by rigorously analyzing how government open data initiatives impact innovation, entrepreneurship, and economic growth through advanced econometric methods.
Keywords: international markets, financial incentives, economic growth, competitiveness, government initiatives
JEL classification: O3, L26, O4
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