Is knowledge spillover from human capital investment a catalyst for technological innovation? The curious case of fourth industrial revolution in BRICS economies
Technological Forecasting and Social Change, 2021, vol. 162, issue C
The issue of knowledge spillovers, and technological innovation has received immense importance, particularly in the Fourth Industrial Revolution. In this context, this endeavor to carry out this study aims to empirically examine the determinants of technological innovation of Brazil, Russia, India, China, and South Africa (BRICS) countries, using the data that spans from the year 1990 to 2017. Moreover, this study further aims to investigate the role of human capital in mediating the relationship between the spillovers, through imports, foreign direct investment, and the technological progress that will prevail. This study is confined to the employment of the Westerlund (2007) cointegration and augmented mean group (AMG) method for the analysis. The cointegration method outcomes show that there is a stable, long-run equilibrium relationship among the variables in all the five models that have been considered. The results of the AMG method show that in the long run, an increase in the gross domestic product, human capital, research and development expenditures, and the foreign direct investment spillovers, increases the technological innovation in BRICS economies. The results also suggest that an improvement in the human capital strengthens the relationship between technological innovation and the spillovers. Hence, the knowledge spillovers and the developed human capital are more likely to affect the total technological innovation.
Keywords: FDI; Human capital; Knowledge spillover; R&D; Technological innovation; BRICS (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
Full text for ScienceDirect subscribers only
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:eee:tefoso:v:162:y:2021:i:c:s0040162520311537
Access Statistics for this article
Technological Forecasting and Social Change is currently edited by Fred Phillips
More articles in Technological Forecasting and Social Change from Elsevier
Bibliographic data for series maintained by Catherine Liu ().