New Indicators of Innovation Activity in Economic Growth Models
نویسندگان
چکیده
Our extensive literature review shows that innovations are fundamental to maintaining competitiveness at both micro- and macro-economic levels. In this study, we address how improve the measurement of their impact on a country’s economic growth. We provide an overview indicators used measure propose three new ones supposed capture knowledge spillover: The Foreign Knowledge Inflow, Domestic Outflow, General Propensity Patent. Innovation was proxied by number patent applications, which supplemented with indexes measuring origin its transfer. employed system GMM method panel data 56 countries for 2002–2019 confirm compare informational value standard innovation our indexes. Implementation revealed counteracting patenting growth when positive effect creation is weakened disclosure. evidence low propensity facilitates foreign economy dependent technological capacity. infusion boosts fast-growing economies but inhibits less technologically sophisticated ones. This supports assumption researching growth, it crucial consider additional factors. Hence, index implementation appears be correct method.
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ژورنال
عنوان ژورنال: Journal of Competitiveness
سال: 2022
ISSN: ['1804-1728', '1804-171X']
DOI: https://doi.org/10.7441/joc.2022.03.09