The optimism effect on country productivity and innovation activities

IF 15.6 1区管理学 Q1 BUSINESS

Journal of Innovation & Knowledge Pub Date : 2024-09-12 DOI:10.1016/j.jik.2024.100565

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引用次数: 0

Abstract

This study focuses on how optimism translates into innovation outcomes. While the link has been established at a microeconomic level, its translation to an aggregate economic effect is still an open question. Empirical analysis draws from a yearly sample of 42 (mainly OECD) countries between 2000 and 2020 to test the effect of economic optimism on R&D measures from both the consumer's and producer's points of view at the aggregate level. Using modern econometric techniques that address potential endogeneity issues, the results suggest that economic optimism supports an increase in innovation activity and economic performance but not an increase in innovation outcomes, such as more patent production. The implication is that an economically optimistic environment is an important contribution to a nation's entrepreneurial ecosystem. This novel insight shows that firms need not specifically recruit optimistic individuals to reap the benefits of the optimism effect. Policies that encourage economic optimism can orchestrate an environment in which the benefits of the optimism effect are realized, independent of the individual personality traits of its citizens.

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乐观主义对国家生产力和创新活动的影响

本研究的重点是乐观主义如何转化为创新成果。虽然这种联系已在微观经济层面得到确立，但将其转化为总体经济效应仍是一个悬而未决的问题。实证分析选取了 2000 年至 2020 年间 42 个国家（主要是经合组织国家）的年度样本，从消费者和生产者的角度测试了经济乐观情绪在总体层面上对研发措施的影响。利用现代计量经济学技术解决潜在的内生性问题，结果表明，经济乐观支持创新活动和经济表现的增长，但不支持创新成果的增长，如更多专利的产生。这意味着，乐观的经济环境对一个国家的创业生态系统具有重要贡献。这一新颖见解表明，企业无需专门招募乐观的个人，就能从乐观效应中获益。鼓励经济乐观的政策可以营造一种环境，使乐观效应的好处得以实现，而与公民的个人性格特征无关。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Innovation & Knowledge Multiple-

CiteScore

16.10

自引率

12.70%

发文量

118

审稿时长

37 days

期刊介绍： The Journal of Innovation and Knowledge (JIK) explores how innovation drives knowledge creation and vice versa, emphasizing that not all innovation leads to knowledge, but enduring innovation across diverse fields fosters theory and knowledge. JIK invites papers on innovations enhancing or generating knowledge, covering innovation processes, structures, outcomes, and behaviors at various levels. Articles in JIK examine knowledge-related changes promoting innovation for societal best practices. JIK serves as a platform for high-quality studies undergoing double-blind peer review, ensuring global dissemination to scholars, practitioners, and policymakers who recognize innovation and knowledge as economic drivers. It publishes theoretical articles, empirical studies, case studies, reviews, and other content, addressing current trends and emerging topics in innovation and knowledge. The journal welcomes suggestions for special issues and encourages articles to showcase contextual differences and lessons for a broad audience. In essence, JIK is an interdisciplinary journal dedicated to advancing theoretical and practical innovations and knowledge across multiple fields, including Economics, Business and Management, Engineering, Science, and Education.