Financial Development and International R&D Spillovers Through Trade
Evidence From Developing Countries
Bibliographic Data
| ID | 3419892 |
|---|---|
| Authors | Thanh Le (0000-0002-1665-7926, University of Wollongong), Ngoc Vu Bich, Ngoc Vu (0000-0002-1369-0368, Ho Chi Minh City Open University), Sau Mai (Academy of Policy and Development), Ha Nguyen (0000-0001-8327-5488, Vietnam Academy of Social Sciences), Hung Bui (Vietnam Academy of Social Sciences, Vietnam), Hung Duc Bui (Vietnam Academy of Social Sciences) |
| Year | 2023 |
| Volume | 13 |
| Issue | 1 |
| Publication date | 2023-01-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | SAGE Open (JOURNAL) |
| Journal identifiers | ISSN: 2158-2440 • E-ISSN: 2158-2440 |
| Publisher | SAGE Publications Inc (PUBLISHER) |
| DOI | 10.1177/21582440231163842 |
| OpenAlex | W4361986011 |
| Language | EN |
| Citations received | 2 |
| References cited | 78 |
This paper examines how financial development affects technological progress of 55 developing countries over the 2003 to 2016 period, with particular attention to the interaction between R&D spillovers and financial development. We find that financial development induces total factor productivity improvement in developing countries both directly and indirectly. While there has been a profound literature on the direct effect of financial development on total factor productivity improvement, the evidence of an indirect effect is relatively new. Specifically, the indirect effect takes place through international R&D spillovers from developed countries to developing countries. Between the two components of financial development, the financial institutional aspects exert a more significant effect on total factor productivity than that of their financial market counterparts. As this paper also re-examines the effectiveness of the North-South R&D spillovers, it conveys important implications for policymakers whose objectives are to promote technological development and economic performance
Developed country · Developing country · Economic growth · Economics · Financial market · International economics · Productivity · Total factor productivity · Economic Growth and Productivity · Energy, Environment, Economic Growth · Fiscal Policy and Economic Growth · Finance
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Cross-Country Technology Diffusion
Financial development and innovation
Testing for unit roots in heterogeneous panels
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Does Foreign Direct Investment Transfer Technology Across Borders
Technical Change and the Aggregate Production Function
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Transitional dynamics in an R&D-based growth model with natural resources
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Brain Drain’ or ‘Brain Circulation’
Scientific Mobility and Knowledge Transfer at the Interregional and Intraregional Level
Endogenous Technological Change
Financial Development, Growth, and the Distribution of Income
North-South R & D Spillovers
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Why do Some Countries Produce So Much More Output Per Worker than Others
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Out of sight but not out of mind
| Unique citing works | 2 |
|---|---|
| Citations per year | 1 |
| Citation span | 2024 - 2025 (2) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 2 |