Masino, S. 2015. Macroeconomic Volatility, Institutional Instability and the Incentive to Innovate. Review of Development Economics. 19 (1), pp. 116-131. https://doi.org/10.1111/rode.12127
| 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 | |
| Digital Object Identifier (DOI) | https://doi.org/10.1111/rode.12127 |
| Publication dates | |
| Published online | 27 Jan 2015 |
| Published in print | 02 Feb 2015 |
| Published | 27 Jan 2015 |