Abstract
The field of eco-innovation is included in the area of sustainable development being closely related with ecological planning. In this context, this paper aims to evaluate Romanian eco-innovation performance during the period 2003–2013 by constructing a composite index and to also identify the main eco-innovation poles at the European level using multidimensional analysis techniques based on the eco-innovation specific indicators for the year 2013. This approach used the methodology of constructing composite indices proposed by Organization for Economic Co-operation and Development (OECD) in 2008. The index measured the eco-innovation dimensions in 27 countries over the period 2003–2013. The empirical analysis revealed the conclusion that in Romania, the eco-innovation level is low compared with other countries, thus Romania cannot emphasize its eco-innovation performance. The empirical results of the study highlighted that eco-innovation represents a phenomenon leading to significant progress in achieving the objective of sustainable development in Romania, and also at the European level, only if the importance of this area is awarded and eco-innovation measures are enforced through adequate policies, leading to economic growth.
Highlights
The third millennium debuts with profound changes, generated by worldwide crises and by reform intentions of different international organizations
The empirical results of the study highlighted that eco-innovation represents a phenomenon leading to significant progress in achieving the objective of sustainable development in Romania, and at the European level, only if the importance of this area is awarded and eco-innovation measures are enforced through adequate policies, leading to economic growth
The results showed that, in Romania, discussion of performance in terms of eco-innovation cannot be made, as Romania ranks being among the last countries in the EU, established through the composite index of eco-innovation and cluster analysis, determining the poles of eco-innovation from EU countries
Summary
The third millennium debuts with profound changes, generated by worldwide crises and by reform intentions of different international organizations. The collaboration of these organizations is aimed at reviving the economies by transforming the internationalization process into globalization. Nations attempt to complete their sustainable development plans with strategies that include the issue of eco-innovation. In this context, this paper highlights issues surrounding the general study objective of eco-innovation performance evaluation during 2003–2013 and identification of Romania’s place among the major eco-innovation poles set at the 2013 European level. The fulfillment of the pursued goals was aimed at shaping new horizons in eco-innovation development, which lead to the adoption of strategic and management decisions that result in a high share of Romania’s economic growth process and its further integration into the international process of sustainable development
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