The Role of Innovation Inputs in the Economic Resilience of Science- Producing Countries

Articles in Press

Document Type : Research Paper

Authors

1 Department of Economics, Faculty of Social Sciences and Economics, Alzahra University, Tehran, Iran.

2 Department of Economic, Faculty of Social Sciences and Economics, Alzahra University, Tehran, Iran.

10.22059/ier.2024.374115.1007973

Abstract

In transitioning toward a knowledge-based economy, nations aim to bolster economic resilience against internal and external crises. Innovation is a key factor in achieving this objective. The main focus of this study is to investigate how innovation inputs contribute to economic resilience. Accordingly, the statistical data of the top 52 science-producing countries were estimated in three groups. The results of model estimating using the FMOLS method from 2011 to 2022 contain points worth considering. The positive effect of per capita income, institutional quality, human capital and research, as well as knowledge and technological products on the economic resilience of all three groups of top science-producing countries, was consistent with the theoretical and empirical literature. The main difference between high-income and low-middle-income countries is the positive effect of the variables of business sophistication and market sophistication, as well as the cross-effect of these two on the economic resilience of high-income countries but these are negative in low-middle-income countries. However, the effect of the variables of business sophistication and market sophistication in low-middle-income countries are negative but the cross-effect of these two variables is positive.

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Iranian Economic Review

Articles in Press, Accepted Manuscript
Available Online from 03 November 2024

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