Panel cointegration techniques applied to pooled data for 27 countries for the period 1960 to 2000 indicate that (1) government spending in education and innovation indicators is cointegrated; (2) education hierarchy is relevant when explaining innovation; and (3) relationship between education...

Panel cointegration techniques applied to pooled data for 27 economies for the period 1960-2000 indicate that: i) government spending in education and innovation indicators are cointegrated; ii) education hierarchy is relevant when explaining innovation; and iii) the relation between education and...