The Consequences of COVID-19 Disruption on Sustainable Economy in the Top 30 High-Tech Innovative Countries.

Abstract

This study aims to investigate the effects of the COVID-19 pandemic on the innovation index, Gross Domestic Product (GDP), high technology exports, and human development (HDI) in the world's leading 30 high-tech innovative countries. Using grey relational analysis models, the association between COVID-19 and other economic development indices was investigated. The model selects the country least affected by the pandemic from the top 30 innovative countries through a conservative (maximin) method based on grey association values. Data was collected from World Bank databases and analyzed to compare pre- and post-COVID-19 periods (2019, 2020). The outcomes of this study provide essential recommendations for industries and decision-makers with suitable action plans to preserve economic systems from further harm caused by the global COVID-19 outbreak. The ultimate goal is to boost the innovation index, GDP, high-tech exports, and HDI of high-tech economies and pave the way for a sustainable economy. To the author's knowledge, this is the first study to develop a multidimensional framework to assess COVID-19's impact on the sustainable economy of top 30 high-tech innovative countries, and to conduct a comparative analysis to identify the strong and weak effects of COVID-19 on sustainable economic growth.

• Authors: Muhammad Ikram, Youssef Sayagh
• Journal: Global journal of flexible systems management (Glob J Flex Syst Manag) Vol. 24 Issue 2 Pg. 247-269 ( 2023) ISSN: 0974-0198 [Electronic] India
• PMID: 37101930 (Publication Type: Journal Article)
• Copyright: © The Author(s) under exclusive licence to Global Institute of Flexible Systems Management 2023, Springer Nature or its licensor (e.g. a society or other partner) holds exclusive rights to this article under a publishing agreement with the author(s) or other rightsholder(s); author self-archiving of the accepted manuscript version of this article is solely governed by the terms of such publishing agreement and applicable law.