Publications by Year: 2024

Journal Article
Kafka, K. I., & Kostis, P. C. (2024). Unravelling the innovation puzzle: The interplay between uncertainty, economic institutions, and innovation performance in advanced and developing economies. Technological Forecasting and Social Change, 198, 123027. WebsiteAbstract
Uncertainty profoundly shapes modern production models and the institutional framework of economies. This study investigates the assumption that heightened uncertainty leads to reduced innovation outcomes. Using an unbalanced panel dataset of 143 countries from 1997 to 2020, the analysis reveals that increased uncertainty significantly affects economies' innovation performance. Economic institutions play a critical role in this process, acting as safeguards or enhancers under high uncertainty. Uncertainty and economic institutions work in synergy, with uncertainty exerting a more prominent impact. In advanced economies, uncertainty and economic institutions negatively influence innovation outcomes, but these economies counteract uncertainty by increasing research and development (R&D) spending. Economic institutions may limit R&D expenditure but create an environment conducive to higher researcher employment. On the other hand, developing economies experience a stronger negative effect of uncertainty compared to advanced economies, and economic institutions require support to foster innovation production. Moreover, these economies have limited capacity to mitigate uncertainty through R&D investments. Overall, this study underscores the complex relationship between uncertainty, economic institutions, and innovation outcomes across different types of economies.
Kremmydas, C., & Kostis, P. C. (2024). Advancing Sustainability: Green Product Satisfaction, Circularity, and Sustainable Development. International Journal of Social Ecology and Sustainable Development (IJSESD), 15(1), 1 - 12. presented at the 2024, Hershey, PA, USA. Publisher's VersionAbstract
This research focuses on sustainable consumption and production (SCP) to balance economic growth with ecological preservation. It assesses Greek consumers' attitudes, satisfaction, and knowledge about green products through questionnaires, analyzing the interplay of these factors in consumer satisfaction and highlighting the role of awareness in the green market. The study also compares these findings with Romanian consumer behavior to understand cultural and socioeconomic influences. Results show that positive attitudes towards green products and access to information significantly enhance consumer satisfaction, a trend consistent across different cultures. However, a lack of sustainability knowledge among youth presents an educational opportunity. The study advocates for strategic educational efforts to support SCP, emphasizing the need for well-informed product design, fair pricing, and clear communication to promote sustainable consumer habits, contributing to the broader SCP discourse and guiding future sustainable economy policies.