Innovation and economic growth: evidence from financial institutional innovation
نویسندگان
چکیده
منابع مشابه
Innovation and Economic Growth
This paper surveys the empirical evidence on the link between innovation and economic growth. It considers a number of different measures of innovation, such as R&D spending, patenting, and innovation counts, as well as the pervasive effect of technological spillovers between firms, industries, and countries. There are three main conclusions. The first is that innovation makes a significant con...
متن کاملFinancial Innovation and Endogenous Growth
Is financial innovation necessary for sustaining economic growth? To address this question, we build a Schumpeterian model in which entrepreneurs earn profits by inventing better goods and profit-maximizing financiers arise to screen entrepreneurs. The model has two novel features. First, financiers engage in the costly but potentially profitable process of innovation: they can invent better me...
متن کاملDynamics of Innovation and Governance Of Economic Growth
Innovation ability plays an important role in economic growth not only in under- developed countries, but also in developed countries, especially when markets are in recession. In this paper, we analyzed changes in major developments in the context of innovation capacity and the causality relation between innovation and its sources through an empirical study based on the automotive subcontracto...
متن کاملFinancial Development and Innovation: Cross Country Evidence
We provide cross-country evidence to examine how financial market development affects innovation. Using a large data set including 34 developed as well as emerging countries, we differentiate the impacts of equity market and credit market development on a country’s innovation productivity measured by patenting. Our baseline results show that, while the development of equity markets encourages i...
متن کاملInnovation and Institutional Ownership
Does greater equity ownership by institutional investors improve or inhibit innovation incentives? We present a model of career concerns where institutional ownership increases the incentives managers have to innovate through reducing informational asymmetries. We then utilize an original panel of US firms containing information on ownership, governance, managerial characteristics and innovatio...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Journal on Innovation and Sustainability. RISUS ISSN 2179-3565
سال: 2017
ISSN: 2179-3565
DOI: 10.24212/2179-3565.2017v8i2p126-141