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Can Institutions explain cross country differences in Innovative Activity?

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  • Cong Wang

Abstract

Motivated by theoretical arguments that assert a positive impact of R&D on institutions, this paper aims to provide some empirical analysis on the relationship between these two variables. In particular this paper has found a significant direct effect of institutions on R&D intensity. Countries with better institutions qualities as captured by the World Banks’ Worldwide Governance Indicators (WGI) tend to attract more scientists and engineers into the research field and to spend more on R&D as well. This paper has also found evidence that the effect of institutions varies in different economies characterized by different levels of financial development and human capital accumulation, but stays relatively unchanged across countries with different levels of trade openness.

Suggested Citation

  • Cong Wang, 2013. "Can Institutions explain cross country differences in Innovative Activity?," Monash Economics Working Papers 35-13, Monash University, Department of Economics.
  • Handle: RePEc:mos:moswps:2013-35
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    4. Trinh Chieu & Tam Nguyen, 2018. "Slack resources and innovation in Vietnamese SMEs: A behavioural, stewardship, and institutional perspective," WIDER Working Paper Series 78, World Institute for Development Economic Research (UNU-WIDER).
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    8. Wang, Chenguang & Qiao, Cuixia & Ahmed, Rahil Irfan & Kirikkaleli, Dervis, 2021. "Institutional Quality, Bank Finance and Technological Innovation: A way forward for Fourth Industrial Revolution in BRICS Economies," Technological Forecasting and Social Change, Elsevier, vol. 163(C).
    9. Wang, Jimin & Wang, Cong, 2021. "Can religions explain cross country differences in innovative activities?," Technovation, Elsevier, vol. 107(C).
    10. Trung V. Vu, 2022. "Does institutional quality foster economic complexity? The fundamental drivers of productive capabilities," Empirical Economics, Springer, vol. 63(3), pages 1571-1604, September.
    11. Eydam, Ulrich & Gabriadze, Irakli, 2018. "Institutional development in Transition Economies - The role of institutional experience," MPRA Paper 87395, University Library of Munich, Germany.
    12. Wang, Cong & Lu, Yifan, 2020. "Can economic structural change and transition explain cross-country differences in innovative activity?," Technological Forecasting and Social Change, Elsevier, vol. 159(C).
    13. Fredström, Ashkan & Peltonen, Juhana & Wincent, Joakim, 2021. "A country-level institutional perspective on entrepreneurship productivity: The effects of informal economy and regulation," Journal of Business Venturing, Elsevier, vol. 36(5).
    14. Trinugroho, Irwan & Law, Siong Hook & Lee, Weng Chang & Wiwoho, Jamal & Sergi, Bruno S., 2021. "Effect of financial development on innovation: Roles of market institutions," Economic Modelling, Elsevier, vol. 103(C).
    15. Wen, Jun & Okolo, Chukwuemeka Valentine & Ugwuoke, Ifeanyi Celestine & Kolani, Kibir, 2022. "Research on influencing factors of renewable energy, energy efficiency, on technological innovation. Does trade, investment and human capital development matter?," Energy Policy, Elsevier, vol. 160(C).
    16. Law, Siong Hook & Naseem, N.A.M. & Lau, Wei Theng & Trinugroho, Irwan, 2020. "Can innovation improve income inequality? Evidence from panel data," Economic Systems, Elsevier, vol. 44(4).
    17. Isabel Busom & Beatriz Corchuelo & Ester Martínez-Ros, 2015. "Dynamics of firm participation in R&D tax credit and subsidy programs," Working Papers wpdea1503, Department of Applied Economics at Universitat Autonoma of Barcelona.
    18. Lee, Chien-Chiang & Wang, Chih-Wei & Ho, Shan-Ju, 2020. "Country governance, corruption, and the likelihood of firms’ innovation," Economic Modelling, Elsevier, vol. 92(C), pages 326-338.
    19. Tam Thanh Nguyen & Trinh Duc Chieu, 2018. "Slack resources and innovation in Vietnamese SMEs: A behavioural, stewardship, and institutional perspective," WIDER Working Paper Series wp-2018-78, World Institute for Development Economic Research (UNU-WIDER).
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    More about this item

    Keywords

    Institutions; innovative activity; economic growth;
    All these keywords.

    JEL classification:

    • F1 - International Economics - - Trade
    • N7 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development

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