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Article

The Role of Innovation in Social Progress? an Empirical Exploration

Raufhon SalahodjaevEconometrics, Tashkent State University of Economics, UzbekistanShukhrat OtajonovDepartment for Formation and Monitoring of State Programs of Scientific and Innovative Activity, Ministry of Innovative Development of the Republic of Uzbekistan, Uzbekistan
The 5th International Conference on Future Networks & Distributed Systemsconference2021en
ABI

Abstract

This study explores the relationship between R&D spending and social progress in the context of rapidly innovating and digitalizing world. Using data for 131 countries for the years 2019-2020, we find that innovation has significant positive relationship with social progress index. After controlling for other factors, 1 percentage point increase in R&D expenditure is associated with 1.13-point increase in social progress. We also confirm the importance of human capital and quality of institutions for the social progress.

Topics

Energy, Environment, Economic GrowthEconomic Growth and ProductivityFiscal Policy and Economic Growth

Identifiers

DOI
10.1145/3508072.3508146

Citations and references

Cited by 010 references
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