Revisiting the effects of innovation on growth: a threshold analysis

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dc.citation.journalTitleApplied Economics Letterseng
dc.contributor.affiliationEscuela de Economía y Finanzas, Universidad EAFIT, Medellin, Colombia, Institute for the Study of Labor IZA, Bonn, Germanyspa
dc.contributor.affiliationEscuela de Economía y Finanzas, Universidad EAFIT, Medellin, Colombiaspa
dc.contributor.affiliationLevy Economics Institute of Bard College, Blithewood, Annandale-on-Hudson, NY 12504-5000, USAspa
dc.contributor.authorCanavire Bacarreza, Gustavospa
dc.contributor.authorAristizabal-Ramirez, M.spa
dc.contributor.authorRios-Avila, Fernando.spa
dc.contributor.departmentEscuela de Economía y Finanzasspa
dc.contributor.departmentEconomíaspa
dc.contributor.programEstudios en Economía y Empresaspa
dc.date2015
dc.date.accessioned2015-11-06T16:24:58Z
dc.date.available2015-11-06T16:24:58Z
dc.date.issued2015
dc.description.abstractSince 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.eng
dc.identifier.doi10.1080/13504851.2015.1039699
dc.identifier.issn1350-4851
dc.identifier.urihttp://hdl.handle.net/10784/7515
dc.language.isoengeng
dc.publisherTaylor & Francis Onlineeng
dc.relation.isversionofhttp://www-tandfonline-com.ezproxy.eafit.edu.co/doi/full/10.1080/13504851.2015.1039699#abstract
dc.relation.urihttp://www-tandfonline-com.ezproxy.eafit.edu.co/doi/full/10.1080/13504851.2015.1039699#abstract
dc.rightsrestrictedAccesseng
dc.rights© 2015 Taylor & Francisspa
dc.rights.accessrightsinfo:eu-repo/semantics/restrictedAccesseng
dc.rights.localAcceso restringidospa
dc.subject.keywordgrowtheng
dc.subject.keywordinnovationeng
dc.subject.keywordthresholdeng
dc.titleRevisiting the effects of innovation on growth: a threshold analysiseng
dc.typearticleeng
dc.typeinfo:eu-repo/semantics/articleeng
dc.typeinfo:eu-repo/semantics/publishedVersioneng
dc.type.hasVersionpublishedVersioneng
dc.type.localArtículospa

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