Lazarov, Darko (2023) Innovation Capacity and Economic Growth: Empirical Estimation for CEE countries. In: International Conference on Sustainability in Technological, Environmental, Law, Management, Social and Economic Matters (ICOSTELM 2023), Lampung - Indonesia. (Unpublished)
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Abstract
The main goal of the paper is to test the link between innovation and economic growth in CEE countries with special focus on North Macedonia
Theoretical background (Innovation based-growth models and HRV growth model)
Methodological framework is based on growth accounting - production approach, GMM panel regression analysis and international benchmarking.
The outcome variable in the panel regression model is economic growth measured by the natural logarithm of real GDP per capita in different time periods, while the independent variables as determinants of economic growth for analyzed group of the CEE countries are:
Innovation capacity measured by royalty payments, number of patents, journal articles and GERD; Human capital measured by gross enrolment in primary, secondary and tertiary education, education spending and number of teachers per student); Investment rate - private and public capital investment as a share of GDP; Export measured as a percentage of real GDP; and Bank credits to the domestic private sector as a percentage of GDP.
| Item Type: | Conference or Workshop Item (Paper) |
|---|---|
| Subjects: | Social Sciences > Economics and business |
| Divisions: | Faculty of Economics |
| Depositing User: | Darko Lazarov |
| Date Deposited: | 12 Feb 2024 13:37 |
| Last Modified: | 12 Feb 2024 13:37 |
| URI: | https://eprints.ugd.edu.mk/id/eprint/33180 |
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