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The role of creative innovation in economic growth: Some international comparisons

  • LeBel, Phillip
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    For many countries, export-driven policies have thus far produced dramatic increases in real per capita income. At the same time, sustainable growth requires that technological innovation proceed at comparable rates if mutual gains from globalization are to be realized. In this paper, we derive a measure of innovation and test the extent to which institutional policy choices enhance or delay its diffusion. To do so we use a panel regression model, with data on a sample of 103 countries in different geographic regions for the 1980-2005 period. Our findings provide empirical evidence of the positive role of creative innovation in economic growth, and from which we derive several basic policy conclusions.

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    Article provided by Elsevier in its journal Journal of Asian Economics.

    Volume (Year): 19 (2008)
    Issue (Month): 4 (August)
    Pages: 334-347

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    Handle: RePEc:eee:asieco:v:19:y:2008:i:4:p:334-347
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    1. Aghion, P. & Howitt, P., 1990. "A Model Of Growth Through Creative Destruction," DELTA Working Papers 90-12, DELTA (Ecole normale supérieure).
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    6. L.R. de Mello Jr., 1996. "Foreign Direct Investment-Led Growth: Evidence from Time Series and Panel Data," Studies in Economics 9615, School of Economics, University of Kent.
    7. Raghuram Rajan & Arvind Subramanian, 2005. "Aid and Growth: What Does the Cross-Country Evidence Really Show?," IMF Working Papers 05/127, International Monetary Fund.
    8. Michael D. Bordo & Alan M. Taylor & Jeffrey G. Williamson, 2003. "Introduction to "Globalization in Historical Perspective"," NBER Chapters, in: Globalization in Historical Perspective, pages 1-10 National Bureau of Economic Research, Inc.
    9. Aghion, P. & Tirole, J., 1993. "On the Management of Innovation," Working papers 93-12, Massachusetts Institute of Technology (MIT), Department of Economics.
    10. Perotti, Roberto, 1996. " Growth, Income Distribution, and Democracy: What the Data Say," Journal of Economic Growth, Springer, vol. 1(2), pages 149-87, June.
    11. Berthelemy, Jean-Claude & Varoudakis, Aristomene, 1996. "Economic Growth, Convergence Clubs, and the Role of Financial Development," Oxford Economic Papers, Oxford University Press, vol. 48(2), pages 300-328, April.
    12. Levine, Ross, 1996. "Financial development and economic growth : views and agenda," Policy Research Working Paper Series 1678, The World Bank.
    13. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth Through Creative Destruction," Scholarly Articles 12490578, Harvard University Department of Economics.
    14. Aghion, Philippe & Howitt, Peter, 1996. " Research and Development in the Growth Process," Journal of Economic Growth, Springer, vol. 1(1), pages 49-73, March.
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