Financial Market Sophistication and Global Innovation Ranking Among Upper-Middle-Income Countries

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Sosyoekonomi
Cilt: 33 Sayı: 66
Financial Market Sophistication and Global Innovation Ranking Among Upper-Middle-Income Countries

Financial Market Sophistication and Global Innovation Ranking Among Upper-Middle-Income Countries

Authors : Naci Yılmaz, Mehmet Civelek

Pages : 265-288

Doi:10.17233/sosyoekonomi.2025.04.12

View : 30 | Download : 37

Publication Date : 2025-10-21

Article Type : Research Paper

Abstract :The study\\\'s primary purpose is to create a list of innovation rankings for 21 “upper-middle-income” countries based on their performance from 2011 to 2021. Moreover, this paper aims to determine which criteria affect innovation performance more and vice versa. BWM+SD and CoCoSo methods, which are multi-criteria decision-making methods, were used to compare the innovation performances of these countries based on WIPO’s criteria and data. According to the BWM and SD methods, “Knowledge and technology outputs” and “Market sophistication” are the most crucial criteria that affect innovation performance. According to the CoCoSo method, the countries with the highest and the lowest innovation performance are China and Algeria, respectively. The integration of different techniques and the investigation of many countries over a long period represent the uniqueness of this study.
Keywords : Finansal Kalkınma, Ekonomik Kalkınma, Sürdürülebilirlik, Küresel İnovasyon Endeksi, Finansal Performans

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