Innovation scoreboard indicators between Serbia and Hungary

Abstract

The world cannot be imagined without innovation progress therefore its measurement and evaluation are highly important. The aim of the paper is to present the importance of innovation progress in the framework of the EU and present the innovation capacities between Hungary and Serbia in the time frame of one decade based on defined innovation inputs distributed through selected outputs. The paper presents the main innovation scoreboard indicators of Serbia and Hungary in the period between 2011 and 2020 presented as descriptive data and at the end wrapped in Data Envelopment analysis with the help of the Malmquist index. In total eight indicators describing human capital, innovation assets, and business research activities were considered for the analysis. In conclusion, Hungary performed better compared to Serbia, and during the examined period neither of the country faced significant falls but as well the progress is quite static and slow.