The interrelationships between economic growth and innovation: international evidence
Technological innovation towards the goal of sustainable development is one of the concerns of many countries. This research investigates the linkages between innovation and growth for 71 countries worldwide from 1996 to 2020 by employing a simultaneous equation model and the three-stage least squar...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Taylor & Francis Group
2024-12-01
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| Series: | Journal of Applied Economics |
| Subjects: | |
| Online Access: | https://www.tandfonline.com/doi/10.1080/15140326.2024.2332975 |
| _version_ | 1826966315639767040 |
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| author | Duyen My Thi Thi Tinh Tran Phu Do |
| author_facet | Duyen My Thi Thi Tinh Tran Phu Do |
| author_sort | Duyen My Thi Thi |
| collection | DOAJ |
| description | Technological innovation towards the goal of sustainable development is one of the concerns of many countries. This research investigates the linkages between innovation and growth for 71 countries worldwide from 1996 to 2020 by employing a simultaneous equation model and the three-stage least squares method to examine the bidirectional linkages among the variables. Outcomes state a two-way relation between growth and technology innovation. Specifically, a positive influence of technology innovation on economic expansion emphasizes the importance of innovation in growth. Meanwhile, a negative relationship between growth and technology innovation shows that the pressure of growth hinders innovation. Furthermore, a bidirectional relationship still exists between them in the sample of high-upper-middle-income countries but only one way for low-lower-middle-income countries. Institutional quality positively affects growth, while institutional quality has a negative influence on innovation. A number of policies have proposed to help promote innovation and enhance economic growth. |
| first_indexed | 2024-04-24T18:41:43Z |
| format | Article |
| id | doaj.art-1f80b1fe0a2c4174af60aa67f2cc9c2f |
| institution | Directory Open Access Journal |
| issn | 1514-0326 1667-6726 |
| language | English |
| last_indexed | 2025-02-18T03:34:04Z |
| publishDate | 2024-12-01 |
| publisher | Taylor & Francis Group |
| record_format | Article |
| series | Journal of Applied Economics |
| spelling | doaj.art-1f80b1fe0a2c4174af60aa67f2cc9c2f2024-11-22T09:09:02ZengTaylor & Francis GroupJournal of Applied Economics1514-03261667-67262024-12-0127110.1080/15140326.2024.2332975The interrelationships between economic growth and innovation: international evidenceDuyen My Thi Thi0Tinh Tran Phu Do1University of Economics and Law, Ho Chi Minh City, VietnamUniversity of Economics and Law, Ho Chi Minh City, VietnamTechnological innovation towards the goal of sustainable development is one of the concerns of many countries. This research investigates the linkages between innovation and growth for 71 countries worldwide from 1996 to 2020 by employing a simultaneous equation model and the three-stage least squares method to examine the bidirectional linkages among the variables. Outcomes state a two-way relation between growth and technology innovation. Specifically, a positive influence of technology innovation on economic expansion emphasizes the importance of innovation in growth. Meanwhile, a negative relationship between growth and technology innovation shows that the pressure of growth hinders innovation. Furthermore, a bidirectional relationship still exists between them in the sample of high-upper-middle-income countries but only one way for low-lower-middle-income countries. Institutional quality positively affects growth, while institutional quality has a negative influence on innovation. A number of policies have proposed to help promote innovation and enhance economic growth.https://www.tandfonline.com/doi/10.1080/15140326.2024.2332975Economic growthtechnological innovationthree-stage least squaressimultaneous equation model |
| spellingShingle | Duyen My Thi Thi Tinh Tran Phu Do The interrelationships between economic growth and innovation: international evidence Journal of Applied Economics Economic growth technological innovation three-stage least squares simultaneous equation model |
| title | The interrelationships between economic growth and innovation: international evidence |
| title_full | The interrelationships between economic growth and innovation: international evidence |
| title_fullStr | The interrelationships between economic growth and innovation: international evidence |
| title_full_unstemmed | The interrelationships between economic growth and innovation: international evidence |
| title_short | The interrelationships between economic growth and innovation: international evidence |
| title_sort | interrelationships between economic growth and innovation international evidence |
| topic | Economic growth technological innovation three-stage least squares simultaneous equation model |
| url | https://www.tandfonline.com/doi/10.1080/15140326.2024.2332975 |
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