Economic conditions for innovation: Private vs. public sector
نویسندگان
چکیده
The Hicks induced innovation hypothesis states that a price increase of production factor is spur to invention. We propose an alternative restating invention requires not only one but also decrease at least other offset the companies’ cost. illustrate need for our in historical example industrial revolution United Kingdom. Furthermore, we econometrically evaluate both hypotheses case study research and development (R&D) 29 OECD countries from 2003 2017. Specifically, investigate dependence investments R&D on economic environment represented by average wages oil prices using panel regression. find supported funded and/or performed business enterprises while original holds government universities. Our results reflect sector significantly influenced market conditions, unlike higher education sectors.
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ژورنال
عنوان ژورنال: Socio-economic Planning Sciences
سال: 2021
ISSN: ['0038-0121', '1873-6041']
DOI: https://doi.org/10.1016/j.seps.2020.100966