The impact of country risk on innovation: Global evidence

IF 3.3 2区 经济学 Q1 ECONOMICS
Jun Wen , Hai-Peng Duan , Chun-Ping Chang , Xin-Xin Zhao
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引用次数: 0

Abstract

This article examines the impact of country risk on the level of innovation. Through empirical analysis of unbalanced panel data from 106 countries around the world from 1990 to 2020, we find that reducing country risk has a pro-innovation effect, and this conclusion holds after a series of robustness tests. We also find that the impact of country risk on innovation is more significant in countries with better infrastructure, democracies, lower income, lower political stability, and countries governed by left-wing parties. The impact of country risk on innovation is also more significant in high-tech industries than in traditional manufacturing industries. The mechanism analysis shows that country risk reduction promotes innovation by increasing and improving government efficiency, human capital, and the business environment. This study expands the research areas related to country risk and provides evidence for understanding the relationship between country risk and innovation.
国家风险对创新的影响:全球证据
本文考察了国家风险对创新水平的影响。通过对全球106个国家1990 - 2020年的非平衡面板数据的实证分析,我们发现降低国家风险具有促进创新的效应,这一结论经过一系列稳健性检验后成立。我们还发现,在基础设施较好、民主制度较低、收入较低、政治稳定性较低以及由左翼政党执政的国家,国家风险对创新的影响更为显著。国家风险对创新的影响在高新技术产业中也比在传统制造业中更为显著。机制分析表明,国家风险降低通过提高和改善政府效率、人力资本和商业环境来促进创新。本研究拓展了国家风险的相关研究领域,为理解国家风险与创新的关系提供了依据。
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
Economic Systems
Economic Systems ECONOMICS-
CiteScore
4.90
自引率
0.00%
发文量
83
审稿时长
48 days
期刊介绍: Economic Systems is a refereed journal for the analysis of causes and consequences of the significant institutional variety prevailing among developed, developing, and emerging economies, as well as attempts at and proposals for their reform. The journal is open to micro and macro contributions, theoretical as well as empirical, the latter to analyze related topics against the background of country or region-specific experiences. In this respect, Economic Systems retains its long standing interest in the emerging economies of Central and Eastern Europe and other former transition economies, but also encourages contributions that cover any part of the world, including Asia, Latin America, the Middle East, or Africa.
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