Article

Does Innovation Promote Regional Economic Development? Evidence for Countries in Europe and Central Asia

Arletta IsaevaAkram IshnazarovTashkent State University of Economics, UzbekistanFeruza ShamsiyevaTashkent State University of Economics, UzbekistanShakhnoza ToshevaAnastas Khachaturov

The 5th International Conference on Future Networks & Distributed Systemsconference2021en

ABI

Abstract

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.

Topics

Economic Growth and Productivity Fiscal Policy and Economic Growth Economic Growth and Development

Identifiers

DOI: 10.1145/3508072.3508209

Citations and references

Cited by 2 9 references

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