Can Institutions explain cross country differences in Innovative Activity?

Cong Wang

No 35-13, Monash Economics Working Papers from Monash University, Department of Economics

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.

Keywords: Institutions; innovative activity; economic growth (search for similar items in EconPapers)
JEL-codes: F1 N7 O1 (search for similar items in EconPapers)
Pages: 39 pages
Date: 2013-07
New Economics Papers: this item is included in nep-cse, nep-cwa and nep-ino
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Citations: View citations in EconPapers (31)

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