Impact of Innovation on Economic Growth in Russia and Morocco

Abstract

The purpose of this paper is to study the impact of innovation on the economic growth of two countries, the Russian Federation, and the Kingdom of Morocco, using consistent time series data for 2013-2020. The results confirmed a positive relationship between innovation and the economic development of the country, controlling for the factors of foreign investment inflows, R&D expenditures, high-tech exports, residents of patent applications and scientific and technical journals. This article concludes that technological innovations have a significant impact on increasing the economic growth of the country, so it is necessary to develop a strong policy to attract foreign investors to allocate resources for growth in the host country.