Cai, Yuezhou; Hanley, Aoife - 2012 - This version: 07 August, 2012
Should inputs such as bank finance affect innovation in BRICS vs. developed countries similarly? Arguably these elasticities may depend on a country’s economic progress (Gerschenkron, 1962; Liu and White, 2001). Applying a combination of DEA and Tobit to a sample of 22 countries, we show how...