Does global economic reform accentuate technological innovation? A comparative evidence around the world

3区经济学 Q1 Economics, Econometrics and Finance

Economic Research-Ekonomska Istrazivanja Pub Date : 2023-10-30 DOI:10.1080/1331677x.2023.2264371

Jun Wen, Chukwuemeka Valentine Okolo

{"title":"Does global economic reform accentuate technological innovation? A comparative evidence around the world","authors":"Jun Wen, Chukwuemeka Valentine Okolo","doi":"10.1080/1331677x.2023.2264371","DOIUrl":null,"url":null,"abstract":"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.","PeriodicalId":51450,"journal":{"name":"Economic Research-Ekonomska Istrazivanja","volume":"17 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2023-10-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Economic Research-Ekonomska Istrazivanja","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1080/1331677x.2023.2264371","RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"Economics, Econometrics and Finance","Score":null,"Total":0}

引用次数: 0

Abstract

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.

查看原文本刊更多论文

全球经济改革是否强化了技术创新?世界各地的比较证据

技术创新提高了效率，通过经济改革为社会提供了新的、更好的商品和服务，提高了人们的生活水平。本研究考察了经济改革对技术创新的影响，使用系统广义矩法和面板分位数回归来解释同时性和反向因果关系。实证结果表明，1995 - 2017年，79个国家的经济改革显著影响了技术创新。更重要的是，我们通过各种方法和子样本进行内生检验和鲁棒性检验，验证了经济改革对技术创新的积极影响。并进一步探讨了这种关系的机理。因此，研究结果为各国政府通过加强政府效率、金融发展和民主透明度来促进创新产出提供了另一种方法。最后，根据研究结果和评估策略讨论了经济建议。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Economic Research-Ekonomska Istrazivanja ECONOMICS-

CiteScore

7.10

自引率

0.00%

发文量

351

审稿时长

45 weeks

期刊介绍： Economic Research-Ekonomska Istraživanja publishes rigorous scientific papers which make a significant contribution to any field of economics – theoretical, applied or empirical – with special attention given to experiences of the transition from socialism to market economies in Eastern Europe. New research on regional development in other geographical areas is welcomed, particularly papers addressing theoretical and empirical issues in economics for countries in transition and former transitional economies. The journal encourages submissions that explore broad economic topics that can contribute to the development of economics as a discipline, discussing important economic issues both from an orthodox or heterodox point of view.