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The Effect of Knowledge-Based Economy Components on Misery Index in Selected Countries (in Persian)

Author

Listed:
  • Shahabadi, Abolfazl

    (Professor, Department of Economics, Faculty of Economics and Social Sciences, Alzahra University, Tehran, Iran.)

  • Heydarkhani, Fatemeh

    (M.A. in Economics, Department of Economics, Alzahra University, Tehran, Iran.)

Abstract

The sum of inflation and unemployment rates is called the misery index, and its escalation can be associated with many social and economic costs such as increased crime, reduced social security, and harm to the mental health of the society. The present study investigates the effect of knowledge-based economy components on the misery index in two groups of selected countries via the approach of panel data and generalized moment method at the level of pre-innovation-driven stage and innovation-driven stage for the period 2008-2018. The results showed the effect of all components of the knowledge-based economy (including economic incentives and institutional regime, innovation system, training and development of human resources and ICT infrastructure) with different estimated coefficients and at different levels of confidence was negative and significant on economic misery in both groups of selected countries. In addition, the effect of control variables, including population and abundance of natural resources, on the misery index in the pre-innovation-driven stage in the selected countries is positive and significant; yet it is not significant in the innovation-driven stage. Also, the effect of economic openness on the misery index in both groups of selected countries was negative and significant.

Suggested Citation

  • Shahabadi, Abolfazl & Heydarkhani, Fatemeh, 2020. "The Effect of Knowledge-Based Economy Components on Misery Index in Selected Countries (in Persian)," The Journal of Planning and Budgeting (٠صلنامه برنامه ریزی Ùˆ بودجه), Institute for Management and Planning studies, vol. 25(3), pages 95-116, November.
    • Handle: RePEc:auv:jipbud:v:25:y:2020:i:3:p:95-116
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    More about this item

    Keywords

    Misery Index; Inflation Rate; Unemployment Rate; Knowledge Based Economy; Economic Openness; Innovation System; Training and Development of Human Resources.;
    All these keywords.

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • I3 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty
    • J64 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment: Models, Duration, Incidence, and Job Search

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