DOI: https://doi.org/10.36719/2789-6919/51/48-51
Khadija Gubadzadeh
Baku Business University
https://orcid.org/0000-0001-9663-6270
xedice.adiu@gmail.com
Economic Growth and Innovation: The Impact of Governance Strategies in Sovereign Countries
Abstract
The topic “Economic Growth and Innovation: The Impact of Governance Strategies in Sovereign Countries” explains the interrelationship between economic development and public administration. The article emphasizes that innovation is the main driving force of economic growth, and its effective implementation is possible only with the right governance strategies. Sovereign countries protect national resources through their governance models, strengthen economic independence, and create an environment conducive to innovation. When effective governance is focused on ensuring transparency, science-based decision-making, and social well-being, it forms a sustainable basis for both economic stability and social development. Consequently, creating the right balance between economic growth, innovation, and governance strategies strengthens the sovereignty of the state and ensures long-term development.
Keywords: economic growth, innovation, management strategies, sovereignty, economic development, public policy, competitiveness, sustainable development, technological innovation, social welfare