The Effect of Knowledge-Based Economy Components on Misery Index in Selected Countries (in Persian)

Abolfazl Shahabadi () and Fatemeh Heydarkhani
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Abolfazl Shahabadi: Professor, Department of Economics, Faculty of Economics and Social Sciences, Alzahra University, Tehran, Iran.
Fatemeh Heydarkhani: M.A. in Economics, Department of Economics, Alzahra University, Tehran, Iran.

The Journal of Planning and Budgeting (٠صلنامه برنامه ریزی و بودجه), 2020, vol. 25, issue 3, 95-116

Abstract: The sum of inflation and unemployment rates is called the misery index, and its escalation can be associated with many social and economic costs such as increased crime, reduced social security, and harm to the mental health of the society. The present study investigates the effect of knowledge-based economy components on the misery index in two groups of selected countries via the approach of panel data and generalized moment method at the level of pre-innovation-driven stage and innovation-driven stage for the period 2008-2018. The results showed the effect of all components of the knowledge-based economy (including economic incentives and institutional regime, innovation system, training and development of human resources and ICT infrastructure) with different estimated coefficients and at different levels of confidence was negative and significant on economic misery in both groups of selected countries. In addition, the effect of control variables, including population and abundance of natural resources, on the misery index in the pre-innovation-driven stage in the selected countries is positive and significant; yet it is not significant in the innovation-driven stage. Also, the effect of economic openness on the misery index in both groups of selected countries was negative and significant.

Keywords: Misery Index; Inflation Rate; Unemployment Rate; Knowledge Based Economy; Economic Openness; Innovation System; Training and Development of Human Resources. (search for similar items in EconPapers)
JEL-codes: C33 D83 E31 I3 J64 (search for similar items in EconPapers)
Date: 2020
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