The innovation and economic growth: the situation in Baltic States?

A number of recent investigations on innovations and economic growth have been performed in Mykolas Romeris University in Lithuania. They are investigating a large scope of innovative activities from the gross domestic expenditure on R&D and learning capacities up to the final innovative production in Baltic countries and especially in Lithuania, including the original theoretical approach and model. The present paper is a first introductory in series “The innovations and economic growth” and surveys the empirical evidence on the link between innovation and economic growth. It considers a number of different measures of innovation, such as R&D spending. The dynamic structure of high-tech commodities export has been analysed and presented to make the comparisons of Baltic States. The econometric models on Lithuania have been applied and linear regressive relation between the R&D spending and innovative export has been discussed. The main conclusions and suggestions for practice are presented.