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Applied economic model for an innovation growth

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  • Josheski, Dushko
  • Magdinceva-Sopova, Marija

Abstract

The issue of institutional support for innovations in Latin American countries has been examined in this paper. We use aprirori theoretical knowledge on this issue in order to derive one econometric model out of a theoretical framework. The influence on human capital variable on innovations growth it is straightforward. However, the sign on the institutions variable is ambiguous. Defective institutions in Latin American countries resulted in regional’s social conflicts which were severe, and the ability of social groups to use formal political institutions to resolve, or mitigate this conflicts has been much less effective. The lack of democracy if we may say, deteriorates the entrepreneurial spirit and hence institutions may as well turn not to be supportive of innovations.

Suggested Citation

  • Josheski, Dushko & Magdinceva-Sopova, Marija, 2013. "Applied economic model for an innovation growth," MPRA Paper 51290, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:51290
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    References listed on IDEAS

    as
    1. Nelson, Richard R. & Nelson, Katherine, 2002. "Technology, institutions, and innovation systems," Research Policy, Elsevier, vol. 31(2), pages 265-272, February.
    2. Robert J. Barro, 1998. "Determinants of Economic Growth: A Cross-Country Empirical Study," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262522543.
    3. Gene M. Grossman & Elhanan Helpman, 1991. "Quality Ladders in the Theory of Growth," Review of Economic Studies, Oxford University Press, vol. 58(1), pages 43-61.
    4. Manuel Arellano & Stephen Bond, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," Review of Economic Studies, Oxford University Press, vol. 58(2), pages 277-297.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Innovations; human capital; quality of institutions; Latin America;
    All these keywords.

    JEL classification:

    • E1 - Macroeconomics and Monetary Economics - - General Aggregative Models
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
    • O54 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean

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