Does global economic reform accentuate technological innovation? A comparative evidence around the world
Bibliographic Data
| ID | 15067306 |
|---|---|
| Authors | Jun Wen (0000-0002-7544-1076, Xi'an Jiaotong University), Chukwuemeka Valentine Okolo (0000-0003-3802-6305, Xi'an Jiaotong University, corresponding author) |
| Year | 2023 |
| Volume | 36 |
| Issue | 3 |
| Publication date | 2023-12-25 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Economic Research-Ekonomska Istraživanja (JOURNAL) |
| Journal identifiers | ISSN: 1331-677X • E-ISSN: 1848-9664 |
| Publisher | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/1331677x.2023.2264371 |
| OpenAlex | W4388021560 |
| Language | EN |
| Citations received | 1 |
| References cited | 89 |
Technology innovation improves efficiency, gives society new and enhanced goods and services through economic reform, and raises their living conditions. This study examined the impact of economic reform on technological innovation using the system generalised method of moments and panel quantile regressions to account for simultaneity and reverse causality. The empirical findings conclude that economic reform significantly impacted technological innovation in 79 nations from 1995 to 2017. More importantly, we verify the positive effect of economic reform on technological innovation by addressing endogenous and robustness checks via various methods and sub-samples. Furthermore, the mechanism of this relationship was explored. Therefore, the research findings offer an alternative method for national "gove'nments to promote innovation output by reinforcing government effectiveness, financia" sec'or development, and the degree of democracy transparency. Finally, economic proposals are discussed based on the findings and estimation strategies. HIGHLIGHTS The study examines the impacts of economic reforms on technological innovation in a panel of 79 economies over 1995-2017. Using GMM and panel quantile regressions, empirical findings indicate that economic reforms promote technological innovations. The positive effect of economic reforms on innovation operates through government effectiveness, financial development, and democracy. Intellectual Patent Protection Act controls inadequate competitiveness and preserves a fair market climate
Democracy · Economic system · Economics · Empirical evidence · Estimation · Macroeconomics · Political science · Politics · Public economics · Simultaneity · Technological change · Economic Growth and Development · Energy, Environment, Economic Growth · Fiscal Policy and Economic Growth
The Rise of the Western World
Reconceptualising the ‘policy mix’ for innovation
The impact of standards and regulation on innovation in uncertain markets
On the relationship between economic freedom and economic growth
De Facto Political Power and Institutional Persistence
Regulation, productivity and growth
Technological Innovation, Resource Allocation, and Growth
Uncertainty and Investment Dynamics
The entrepreneurial state
Financial development and innovation
Biases in Dynamic Models with Fixed Effects
Regression Quantiles
Initial conditions and moment restrictions in dynamic panel data models
Economic freedom and economic growth
Economic Freedom of the World
A Model of Growth Through Creative Destruction
Measuring Government Effectiveness and Its Consequences for Social Welfare in Sub-Saharan African Countries
Diffusion of Innovations
The Impact of Regulation on Economic Growth in Developing Countries
Innovation, Intellectual Property Rights, and Economic Development
Structural policies and growth
Endogenous dynamics between R&D, ICT and economic growth
The theory of economic development – An inquiry into profits, capital, credit, interest, and the business cycle
Local Government Efficiency and Anti-immigrant Violence
Democratization and Economic Globalization
Government Effectiveness and Institutional Trust in Japan, South Korea, and China
| Unique citing works | 1 |
|---|---|
| Citations per year | 0,5 |
| Citation span | 2024 - 2024 (1) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 1 |