The SONA Project: A New Set of Innovations Indicators to Measure Efficiency of Managerial Economics in Developing Countries

TLDR: In this article, the authors present a new model of market equilibrium, which has been designed to restore a balance between the levels of production, employment, income and prices, which is the core basis for assessing economic changes in the growth of innovations under the realities of the globalized world economy.

Abstract: The present paper reflects the outcomes of the in-depth analysis relating to the development of the economic analyses indicators to assess growth at different levels of the process of innovations in a national economy. It presents a new model of market equilibrium, which has been designed to restore a balance between the levels of production, employment, income and prices. Specifically, the paper developed a theorem, which has built on the set of the innovations indicators to measure growth in innovations in the development of national economies of world’s developing countries. The novice of the paper is in its justification of the qualitative theory of money as the core basis for assessing economic changes in the growth of innovations under the realities of the globalized world economy. The prime contribution of the study is that it puts a halt to the inefficient and ineffective utilization of natural, material, capital and labor resources. Moreover, it opens up an undisturbed path to the development of green economy thereby leading to the sustainable economic development that saves capital, labor, and environmentally-friendly resources.