Revisiting the effects of innovation on growth: a threshold analysis

Since Schumpeter’s (1934) seminal work, the existing literature has examined the relationship between innovation and economic growth, arguing for a strictly positive relationship. The recent literature suggests that this relationship might be non-linear. Low levels of innovation will not affect econ...

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Autores:
Canavire Bacarreza, Gustavo
Aristizabal-Ramirez, M.
Rios-Avila, Fernando.
Tipo de recurso:
Fecha de publicación:
2015
Institución:
Universidad EAFIT
Repositorio:
Repositorio EAFIT
Idioma:
eng
OAI Identifier:
oai:repository.eafit.edu.co:10784/7515
Acceso en línea:
http://hdl.handle.net/10784/7515
Palabra clave:
growth
innovation
threshold
Rights
License
restrictedAccess
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oai_identifier_str oai:repository.eafit.edu.co:10784/7515
network_acronym_str REPOEAFIT2
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repository_id_str
spelling 20152015-11-06T16:24:58Z20152015-11-06T16:24:58Z1350-4851http://hdl.handle.net/10784/751510.1080/13504851.2015.1039699Since Schumpeter’s (1934) seminal work, the existing literature has examined the relationship between innovation and economic growth, arguing for a strictly positive relationship. The recent literature suggests that this relationship might be non-linear. Low levels of innovation will not affect economic growth; yet, when a certain threshold is reached, innovation significantly promotes economic growth. Using panel data information for 147 countries from 2006 to 2012, we employ threshold regressions à la Hansen (1999) to test the hypothesis of a non-linear relationship between innovation and growth. We find evidence that the relationship between innovation and growth is not linear and that only high levels of innovation increase economic growth. The results tend to be stronger when investment and public expenditure are present, suggesting that the quality of institutions is important.engTaylor & Francis Onlinehttp://www-tandfonline-com.ezproxy.eafit.edu.co/doi/full/10.1080/13504851.2015.1039699#abstracthttp://www-tandfonline-com.ezproxy.eafit.edu.co/doi/full/10.1080/13504851.2015.1039699#abstractrestrictedAccess© 2015 Taylor & FrancisAcceso restringidohttp://purl.org/coar/access_right/c_16ecRevisiting the effects of innovation on growth: a threshold analysisarticleinfo:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionArtículopublishedVersionObra publicadahttp://purl.org/coar/version/c_970fb48d4fbd8a85http://purl.org/coar/resource_type/c_6501http://purl.org/coar/resource_type/c_2df8fbb1growthinnovationthresholdEscuela de Economía y FinanzasEconomíaCanavire Bacarreza, Gustavod7bb3ad8-903c-44fc-a824-a8917b11004d-1Aristizabal-Ramirez, M.2c32a6cf-caf2-449c-af96-3e4bc76cf7ed-1Rios-Avila, Fernando.85f36251-5fe8-40fe-9257-a431c965dd11-1Escuela de Economía y Finanzas, Universidad EAFIT, Medellin, Colombia, Institute for the Study of Labor IZA, Bonn, GermanyEscuela de Economía y Finanzas, Universidad EAFIT, Medellin, ColombiaLevy Economics Institute of Bard College, Blithewood, Annandale-on-Hudson, NY 12504-5000, USAEstudios en Economía y EmpresaApplied Economics Letters10784/7515oai:repository.eafit.edu.co:10784/75152024-12-04 11:48:47.306metadata.onlyhttps://repository.eafit.edu.coRepositorio Institucional Universidad EAFITrepositorio@eafit.edu.co
dc.title.eng.fl_str_mv Revisiting the effects of innovation on growth: a threshold analysis
title Revisiting the effects of innovation on growth: a threshold analysis
spellingShingle Revisiting the effects of innovation on growth: a threshold analysis
growth
innovation
threshold
title_short Revisiting the effects of innovation on growth: a threshold analysis
title_full Revisiting the effects of innovation on growth: a threshold analysis
title_fullStr Revisiting the effects of innovation on growth: a threshold analysis
title_full_unstemmed Revisiting the effects of innovation on growth: a threshold analysis
title_sort Revisiting the effects of innovation on growth: a threshold analysis
dc.creator.fl_str_mv Canavire Bacarreza, Gustavo
Aristizabal-Ramirez, M.
Rios-Avila, Fernando.
dc.contributor.department.spa.fl_str_mv Escuela de Economía y Finanzas
Economía
dc.contributor.author.spa.fl_str_mv Canavire Bacarreza, Gustavo
Aristizabal-Ramirez, M.
Rios-Avila, Fernando.
dc.contributor.affiliation.spa.fl_str_mv Escuela de Economía y Finanzas, Universidad EAFIT, Medellin, Colombia, Institute for the Study of Labor IZA, Bonn, Germany
Escuela de Economía y Finanzas, Universidad EAFIT, Medellin, Colombia
Levy Economics Institute of Bard College, Blithewood, Annandale-on-Hudson, NY 12504-5000, USA
dc.contributor.program.spa.fl_str_mv Estudios en Economía y Empresa
dc.subject.keyword.eng.fl_str_mv growth
innovation
threshold
topic growth
innovation
threshold
description Since Schumpeter’s (1934) seminal work, the existing literature has examined the relationship between innovation and economic growth, arguing for a strictly positive relationship. The recent literature suggests that this relationship might be non-linear. Low levels of innovation will not affect economic growth; yet, when a certain threshold is reached, innovation significantly promotes economic growth. Using panel data information for 147 countries from 2006 to 2012, we employ threshold regressions à la Hansen (1999) to test the hypothesis of a non-linear relationship between innovation and growth. We find evidence that the relationship between innovation and growth is not linear and that only high levels of innovation increase economic growth. The results tend to be stronger when investment and public expenditure are present, suggesting that the quality of institutions is important.
publishDate 2015
dc.date.available.none.fl_str_mv 2015-11-06T16:24:58Z
dc.date.issued.none.fl_str_mv 2015
dc.date.accessioned.none.fl_str_mv 2015-11-06T16:24:58Z
dc.date.none.fl_str_mv 2015
dc.type.eng.fl_str_mv article
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
dc.type.coarversion.fl_str_mv http://purl.org/coar/version/c_970fb48d4fbd8a85
dc.type.coar.fl_str_mv http://purl.org/coar/resource_type/c_6501
http://purl.org/coar/resource_type/c_2df8fbb1
dc.type.local.spa.fl_str_mv Artículo
dc.type.hasVersion.eng.fl_str_mv publishedVersion
dc.type.hasVersion.spa.fl_str_mv Obra publicada
status_str publishedVersion
dc.identifier.issn.none.fl_str_mv 1350-4851
dc.identifier.uri.none.fl_str_mv http://hdl.handle.net/10784/7515
dc.identifier.doi.none.fl_str_mv 10.1080/13504851.2015.1039699
identifier_str_mv 1350-4851
10.1080/13504851.2015.1039699
url http://hdl.handle.net/10784/7515
dc.language.iso.eng.fl_str_mv eng
language eng
dc.relation.isversionof.none.fl_str_mv http://www-tandfonline-com.ezproxy.eafit.edu.co/doi/full/10.1080/13504851.2015.1039699#abstract
dc.relation.uri.none.fl_str_mv http://www-tandfonline-com.ezproxy.eafit.edu.co/doi/full/10.1080/13504851.2015.1039699#abstract
dc.rights.eng.fl_str_mv restrictedAccess
dc.rights.spa.fl_str_mv © 2015 Taylor & Francis
dc.rights.coar.fl_str_mv http://purl.org/coar/access_right/c_16ec
dc.rights.local.spa.fl_str_mv Acceso restringido
rights_invalid_str_mv restrictedAccess
© 2015 Taylor & Francis
Acceso restringido
http://purl.org/coar/access_right/c_16ec
dc.publisher.eng.fl_str_mv Taylor & Francis Online
institution Universidad EAFIT
repository.name.fl_str_mv Repositorio Institucional Universidad EAFIT
repository.mail.fl_str_mv repositorio@eafit.edu.co
_version_ 1818102408887140352

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