Julianna Csugány – Eszterházy Károly University, Eger, Hungary

DOI: https://doi.org/10.31410/ERAZ.2019.303

5th International Conference – ERAZ 2019 – KNOWLEDGE BASED SUSTAINABLE DEVELOPMENT, Budapest – Hungary, May 23, 2019, CONFERENCE PROCEEDINGS

Published by: Association of Economists and Managers of the Balkans – Belgrade, Serbia
Conference partners: Faculty of Economics and Business, Mediterranean University, Montenegro; University of National and World Economy – Sofia, Bulgaria; Faculty of Commercial and Business Studies – Celje, Slovenia; Faculty of Applied Management, Economics and Finance – Belgrade, Serbia;

ISBN 978-86-80194-20-2, ISSN 2683-5568, DOI: https://doi.org/10.31410/ERAZ.2019


Nowadays, we live in the era of the Fourth Industrial Revolution, in which the digitization, automatization
and robotization process enabling the wider use of information and communication technologies
reorganizes the operation of the economies. In previous research, innovation- and imitation-based
economies have been classified using multivariate statistical methods to highlight the duality of technological
progress. The Fourth Industrial Revolution offers an opportunity to reorganize global power relations;
innovation followers can become innovation leaders due to new technologies, as well as, innovation leaders
can lag behind without innovation. The World Economic Forum creates the new Global Competitiveness
Index 4.0 which measures the relevant components of competitiveness in 140 countries in the era of the
Fourth Industrial Revolution. This research aims to compare the economic performance of innovation- and
imitation-based economies in the relevant field of technological progress based on GCI 4.0 using multivariate
statistical methods.

Key words

The Fourth Industrial Revolution, innovation-based economies, imitation-based economies,
Global Competitiveness Index 4.0.


[1] Acemoglu, D., Aghion, P., Zilibotti, F. (2006) Distance to frontier, Selection, and Economic
growth. Journal of the European Economic Association, 4(1), pp. 37–74.
[2] Barro, R. J., Sala–i–Martin, X. (1997) Technological Diffusion, Convergence, and Growth.
Journal of Economic Growth, Vol. 2(1), pp. 1–26.
[3] Basu, S., Weil, D. N. (1998) Appropriate Technology and Growth. The Quarterly Journal
of Economics, 113(4), pp. 1025 – 1054.
[4] Csugány J. (2016) A gazdasági, technológiai és intézményi fejlettség összefüggésének
empirikus vizsgálata: az innovátor és imitátor országok megkülönböztetése. [Empirical
analysis in the context of economic, technological and institutional development: the distinction
between innovator and imitator countries]. Competitio, 15(1), pp. 3 – 21.
[5] Jerzmanowski, M. (2007) Total Factor Productivity Differences: Appropriate Technology
vs. Efficiency. European Economic Review, 51(8), pp. 2080 – 2110.
[6] Schwab, K. (2018) Global Competitiveness Report 2018. World Economic Forum. http://
[7] Szalavetz, A. (2010) Innovációvezérelt növekedés? [Innovation-driven growth?] Közgazdasági
Szemle, Vol. LVIII., May, pp. 460 – 476.
[8] World Economic Forum (2018) Global Competitiveness Index 4.0 [database] www3.weforum.