scholarly journals Does the national innovation system spur economic growth in Brazil, Russia, India, China and South Africa economies? Evidence from panel data

2018 ◽  
Vol 21 (1) ◽  
Author(s):  
Brima Sesay ◽  
Zhao Yulin ◽  
Fang Wang
Keyword(s):  
Economic Growth ◽  
South Africa ◽  
Panel Data ◽  
Emerging Economies ◽  
Innovation System ◽  
National Innovation System ◽  
High Tech ◽  
Potential Growth ◽  
Data Set ◽  
The Relationship

The question as to whether the national innovation system (NIS) plays a significant positive role in influencing economic growth has been intensely debated by academics as well as policy analysts. The main controversy, however, is the fact that the ongoing empirical evidences on the relationship between innovation and economic growth are still mixed. The aim of this paper is to provide further evidence on the relationship between the NIS and economic growth using consistent and reliable data from a sample of emerging economies (Brazil, Russia, India, China and South Africa [BRICS]). The research has a BRICS focus and constructs NIS using historical panel data set for the main variables, that is, university enrolment rate for science and engineering students, government research and development expenditure, high-tech export and the enclosure of control variables covering the period 2000Q1–2013Q4. The study employed a dynamic panel estimation technique with a view of evaluating the relative impact of the NIS on economic growth in BRICS. The results revealed that the NIS as a whole has a positive effect on economic growth in BRICS economies. An important policy implication emerging from this study is that extra efforts are needed by emerging economies to promote the development of a NIS so as to explore the potential growth-inducing effects of a well-functioning NIS. Consequently, findings from this study have offered some persuading indicators for BRICS economies to explore the development of a NIS as a potential opportunity to speed up their economic growth.

National Innovation System of India: An Empirical Analysis

2018 ◽  
Vol 9 (2) ◽  
pp. 203-224 ◽  
Author(s):  
Swati Mehta
Keyword(s):  
Emerging Economies ◽  
Positive Impact ◽  
Innovation System ◽  
National Innovation System ◽  
Least Square ◽  
High Tech ◽  
Input And Output ◽  
Output Side ◽  
Innovation Output ◽  
Output Indicators

The present article aims to analyse empirically the national innovation system (NIS) of India. Specifically, the objectives were to (a) examine the different innovation-related input and output variables that reflect the structure of NIS over the years, and (b) examine the factors determining NIS. However, it was very difficult to identify the variables that could reflect the NIS of the country. Individual indicators of innovation, both from input and output side, are largely inconclusive. However, relatively more reflective indicators were chosen for the period 1980–2012. It was found that although India’s GDP has increased over the years, but its share in total world’s GDP was very meagre. Further, it was also found that as compared to major developed and comparable emerging economies, India lagged behind in both innovation inputs variables like expenditure on R&D and S&T manpower; and innovation output indicators like patents, proportion of high-tech manufacturing exports, etc. Further, for the second objective of the article concerning the determinants of NIS, a modified version of the Crepon, Duguet and Mairesse (CDM) model (1998) was used. The estimation using three-stage least square (3SLS) estimator for simultaneous equations shows that expenditure on R&D by government, stock of science and technology personnel, world’s stock of patents and openness index have positive impact on innovation performance indicators. Therefore, policies should be framed in a manner that they emphasize more on innovation inputs like expenditure on R&D and building human capital in the form of S&T personnel.

THE EFFECT OF ECONOMIC GROWTH ON INCOME INEQUALITY:PANEL DATA ANALYSIS FROM FIFTY COUNTRIES

INFO ARTHA ◽  
2021 ◽  
Vol 5 (1) ◽  
pp. 1-10
Author(s):  
Alamanda Alamanda
Keyword(s):  
Economic Growth ◽  
Panel Data ◽  
Income Inequality ◽  
Random Effect ◽  
Random Effect Model ◽  
High Income ◽  
Data Set ◽  
Middle Income ◽  
The Rich ◽  
The Relationship

The relationship between economic growth and income inequality is one of the controversial issues in macroeconomics. Many studies have been done to show the relationship between economic growth and income inequality. However, the research about this problem by using panel data is still minimum. Also, there is still no research that differentiates the effect between lower-middle, upper-middle, and high-income countries. This paper examines the effect of economic growth on income inequality by analysing a panel data set of fifty countries from 2000 to 2018. Using the Pooled OLS, Fixed Effect, and Random Effect Model, this paper finds that economic growth has a positive significant impact on income inequality, which means the higher the economic growth, the bigger the gap between the rich and the poor. The empirical evidence suggests that a one-point increase in GDP growth will increase the Gini Index by 0.082 to 0.085 points on average. Moreover, the paper finds that the effect of economic growth on increasing the incidence of income inequality seems to be higher in lower-middle and upper-middle income countries than in high-income countries.

scholarly journals Innovative Potential of Industry and Productive Power of Science as the Factors of Economic Growth

2001 ◽  
Vol 14 (7) ◽  
pp. 966-977
Author(s):  
Lyudmila N. Perepechko ◽  
◽  
Miron A. Yagolnitser ◽  
Keyword(s):  
Economic Growth ◽  
Intellectual Property ◽  
Statistical Data ◽  
Innovation System ◽  
High Tech ◽  
Research Personnel ◽  
Two Factors ◽  
Innovative Potential ◽  
Relationship Of ◽  
The Relationship

The relationship of indicators of intellectual property (IP) with indices characterizing the effectiveness of the national innovation system and the state of its subjects – science and industry – has been identified and justified based on the analysis of statistical data for 40 countries, selected by the share of high-tech products in the export. Two factors have been identified: the first factor is related to industry and can be called «innovative industrial potential». The second factor is related to GDP, protection of IP abroad, funding of science and IP revenues. It can be conditionally attributed to the productive power of science. The number of research personnel also correlates with these indicators. This study confirms the inextricable relationship between the indices of the innovative state of science and industry, whose characteristics include R&D funding, export of high-tech products, IP, and production of metalworking equipment

scholarly journals Non-bank financial institutions and economic growth: Evidence from Africa’s three largest economies

2017 ◽  
Vol 20 (1) ◽  
Author(s):  
Ronald Rateiwa ◽  
Meshach J. Aziakpono
Keyword(s):  
Economic Growth ◽  
South Africa ◽  
Financial Institutions ◽  
Time Series Data ◽  
Bank Lending ◽  
Series Data ◽  
The Sustainable Development ◽  
Long Run ◽  
The Relationship

Background: In order for the post-2015 world development agenda – termed the sustainable development goals (SDGs) – to succeed, there is a pronounced need to ensure that available resources are used more effectively and additional financing is accessed from the private sector. Given that traditional bank lending has slowed down, the development of non-bank financing has become imperative. To this end, this article intends to empirically test the role of non-bank financial institutions (NBFIs) in stimulating economic growth.Aim: The aim of this article is to empirically test the existence of a long-run equilibrium relationship between economic growth and the development of NBFIs, and the causality thereof.Setting: The empirical assessment uses time-series data from Africa’s three largest economies, namely, Egypt, Nigeria and South Africa, over the period 1971–2013.Methods: This article uses the Johansen cointegration and vector error correction model within a country-specific setting.Results: The results showed that the long-run relationship between NBFI development and economic growth is relatively stronger in Egypt and South Africa, than in Nigeria. Evidence in respect of Nigeria shows that such a relationship is weak. The nature of the relationship between NBFI development and economic growth in Egypt is positive and significant, and predominantly bidirectional. This suggests that a virtuous relationship between NBFIs and economic growth exists in Egypt. In South Africa, the relationship is positive and significant and predominantly runs from NBFI development to economic growth, implying a supply-leading phenomenon. In Nigeria, the results are weak and mixed.Conclusion: The study concludes that in countries with more developed financial systems, the role of NBFIs and their importance to the economic growth process are more pronounced. Thus, there is need for developing policies targeted at developing the NBFI sector, given their potential to contribute to economic growth.

scholarly journals Can One Promote a Delegation of the Bilateral Aid to Multilateral Donors to Improve Foreign Aid Effect on Economic Growth in ECOWAS (Note 1) Countries?

2019 ◽  
Vol 2 (1) ◽  
pp. 51
Author(s):  
W. Jean Marie Kébré
Keyword(s):  
Economic Growth ◽  
Panel Data ◽  
Least Squares ◽  
Foreign Aid ◽  
Bilateral Aid ◽  
Multilateral Aid ◽  
Multilateral Institutions ◽  
Negative Effect ◽  
High Degree ◽  
The Relationship

<p><em>This article analyzes the relationship between external aid and economic growth in the ECOWAS region, with a focus on bilateral and multilateral aid effects. The key idea behind this analysis is an argument of Svensson</em><em> </em><em>(2000)</em><em> that multilateral aid is more effective than bilateral aid because of the high degree of altruism of bilateral donors. He therefore suggested a delegation of bilateral aid to multilateral institutions. To appreciate his suggestion, this analysis used panel data from the 16 ECOWAS countries from the period 1984 to 2014. The results of the estimates, based on the dynamic least squares estimator (DOLS), show a negative effect of foreign aid on economic growth. This negative effect on economic growth persists when the components of aid are introduced into the model. In addition, results highlight that governance is a channel through which foreign aid affect positively economic growth. In these conditions, bilateral aid is more effective on economic growth than multilateral aid. These results about foreign aid received by ECOWAS countries invalidates</em><em> </em><em>Svensson’s</em><em> </em><em>(</em><a title="Svensson, 2000 #5" href="#_ENREF_1"><em>2000</em></a><em>)</em><em> theory. Therefore, a delegation of bilateral aid to multilateral institutions is not relevant because bilateral aid contributes more to economic growth if governance is taken into account.</em></p>

scholarly journals How do Poverty and Income Inequality affect Economic Growth in Developing Countries?

2021 ◽  
Vol 4 (2) ◽  
pp. 547-558
Author(s):  
Hamza Saleem ◽  
Fatima Farooq ◽  
Muhammad Aurmaghan
Keyword(s):  
Economic Growth ◽  
Developing Countries ◽  
Panel Data ◽  
Income Inequality ◽  
Negative Impact ◽  
Positive Impact ◽  
Development Indicators ◽  
The Relationship ◽  
Positive Effect ◽  
World Development

The major objective of this research is to examine the relationship between poverty, income inequality and economic growth from some selected developing countries. This study uses panel data for the period of 2002-2015. All the data is taken from world development indicators (WDI). To find out the results, we have used Hausman test an econometrics technique for panel data in this research. The results of the study indicate that poverty and income inequality have a negative impact on economic growth on the other hand Gross capital formation, labor force, total population and government consumption and expenditure have a positive impact on economic growth. The result tells us that changes in these variables have a significant and positive effect on the dependent variable. To achieve the goal of economic growth developing countries should reduce poverty and take meaningful steps to overcome the problem of inequality in the society which can be very helpful in achieving the goal of economic growth.

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