MODELING THE QUALITY OF LIFE - ECONOMIC GROWTH FUELLED BY TECHNOLOGY RESEARCH, INNOVATION AND KNOWLEDGE

• Main Authors: Katja Rasic, Matjaz Mulej, Vesna Cancer
• Format: Article
• Language: English
• Published: CEOs Ltd. 2014-09-01
• Series: Innovative Issues and Approaches in Social Sciences
• Subjects: Economic growth; innovation; knowledge; technology research
• Online Access: http://www.iiass.com/pdf/IIASS-2014-no3-art06.pdf

The paper attempts to integrate indicators of economic growth based on innovation, technology research, and knowledge with the indicators of quality of life. The research collected data at the macro-economic level from the Republic of Slovenia between 1990 and 2011 and empirically verified individual variables based on the quality of life and economic growth. The main purpose of the research was to conceptualize and empirically verify individual variables based on the quality of life and company success, using a sample of 288 economic companies at the micro-economic level. Their innovation–government mechanisms and innovation–innovative process show a strong correlation, while technology research, innovation, knowledge, and company’s success show a medium-strong correlation with the quality of life at the micro-economic level. Technology research, knowledge, and economic growth also show a strong correlation with the quality of life at the macro-economic level in the Republic of Slovenia. Company’s success and economic growth in the Republic of Slovenia have a positive effect on the quality of life. The scientific contribution is based on the application of the new QL-TRIK model that investigates how economic growth fuels quality of life through technology research, innovation, and knowledge.