The effect of capital and labour distortion on innovation
Yidan Liang
Accounting and Finance, 2023, vol. 63, issue 2, 1709-1737
Abstract:
Factor misallocation has significant effects on productivity and innovation. Innovation is widely regarded as the most important element for economic growth. This article aims to study how capital and labour distortions influence innovation activities in China. We apply system generalised methods of moments using a natural experiment with an exogenous shock. The results indicate that the measurements for factor misallocation are significantly negatively correlated to innovation. The findings have important implications for emerging countries to improve their innovation productivity.
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:bla:acctfi:v:63:y:2023:i:2:p:1709-1737
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