Macroeconomic Volatility, Institutional Instability and the Incentive to Innovate : WestminsterResearch

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Title	Macroeconomic Volatility, Institutional Instability and the Incentive to Innovate
Type	Journal article
Authors	Masino, S.
Abstract	This study investigates the channels through which macroeconomic and institutional instability hinders innovative investment undertakings financed by the domestic private sector. The analysis is based on a sample of 44 countries and considers various instability dimensions. The results suggest a negative impact of real, monetary and political instability on the aggregate level of R&D financed by the business sector. Thus, highlighting the importance of stable macro‐institutional environments in preventing avoidance or abandonment of private innovation undertakings.
Journal	Review of Development Economics
Journal citation	19 (1), pp. 116-131
ISSN	1467-9361
Year	2015
Publisher	Wiley
Accepted author manuscript	Macroeconomic Volatility, Institutional Instability, and the Incentive to Innovate.pdf
Digital Object Identifier (DOI)	https://doi.org/10.1111/rode.12127
Published online	27 Jan 2015
Published in print	02 Feb 2015
Published	27 Jan 2015

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Macroeconomic Volatility, Institutional Instability and the Incentive to Innovate

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