DOES INNOVATION PROMOTE REGIONAL ECONOMIC DEVELOPMENT? EVIDENCE FOR COUNTRIES IN EUROPE AND CENTRAL ASIA

Akram Ishnazarov

DOES INNOVATION PROMOTE REGIONAL ECONOMIC DEVELOPMENT? EVIDENCE FOR COUNTRIES IN EUROPE AND CENTRAL ASIA

Авторы

Akram Ishnazarov a:1:{s:5:"ru_RU";s:38:"Tashkent state university of economics";}

Ключевые слова:

innovation, patents, economic development

Аннотация

The aim of this study is to assess the relationship between innovation and economic development in a sample of 47 countries from Europe and Central Asia for the years 1990-2020. We use patent applications per 100,000 people as a proxy for innovation. Our results suggest increase in the number of patents per 100,000 people by 10 (slightly less than 1 standard deviation) is associated with 3.4% increase in GDP per capita. The results remain robust after accounting for determinants of economic growth.

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DOES INNOVATION PROMOTE REGIONAL ECONOMIC DEVELOPMENT? EVIDENCE FOR COUNTRIES IN EUROPE AND CENTRAL ASIA