Applied economic model for an innovation growth

Dushko Josheski () and Marija Magdinceva-Sopova

MPRA Paper from University Library of Munich, Germany

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.

Keywords: Innovations; human capital; quality of institutions; Latin America (search for similar items in EconPapers)
JEL-codes: E1 O33 O43 O54 (search for similar items in EconPapers)
Date: 2013-11
New Economics Papers: this item is included in nep-ino and nep-lam
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