A DYNAMIC PANEL DATA ANALYSIS FOR RELATIONSHIP BETWEEN TECHNOLOGICAL INNOVATION, ENTREPRENEURSHIP AND ECONOMIC GROWTH
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Date
2017-06-30
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Oum-El-Bouaghi University
Abstract
This manuscript aims to study elements of answers to the effect of
adequate entrepreneurial activity that would have effects on economic
growth. This paper analyzes the relationship between entrepreneurship
and economic growth for a dynamic panel data of developing countries
over the 2004–2017 periods. We used two measures of entrepreneurship:
the new density and the potential of innovation. We estimated a growth
function using the method of static and dynamic panel data. Our results
show that the new density and growth are significantly and positively
correlated. Our results also show that if the short-term impact of
technological innovation on growth is negative, this effect is positive in
the long term. This result confirms the theoretical predictions, namely the
theory of spillage.
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Keywords
Entrepreneurship, Technological innovation, Economic growth, Dynamic Panel data, Causality