{"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":null,"pages":null},"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.
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.