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Optimal growth requires pro-growth institutions and culture. In an optimal growth pattern, institutions and culture … facilitate entrepreneurship and innovation. In contrast, if the development and coevolution of institutions and culture are … and innovation activity. Policymakers should therefore plan and implement pro-growth structural changes to institutions …
Persistent link: https://www.econbiz.de/10011946731
This study examined the non-linear relationship between financial development and innovation using generalized method of moments (GMM) estimators for a panel data model. The sample comprised data for 75 developed and developing countries for the period 1996 to 2010. An inverted U-shaped...
Persistent link: https://www.econbiz.de/10011946754