期刊名称：Journal of Open Innovation: Technology, Market, and Complexity
电子版ISSN：2199-8531
出版年度：2021
卷号：7
期号：2
页码：1-26
DOI：10.3390/joitmc7020141
语种：English
出版社：Springer
摘要：The determinants of innovation output in empirical literature were extensively investigated by considering diverse sets of variables. Still, the impact of economic policy uncertainty on innovation output is yet to unleash. To mitigate the existing research gap, the study investigated the association between EPU and innovation output, considering a panel of 22 countries over 1997–2018. The study employed a dynamic panel quantile regression and system-GMM specification causality test for discovering elasticity and directional association both in the long-run and the short-run. Study findings disclosed negative statistically significant effects running from EPU to innovation output except innovation measured by RD. Moreover, institutional quality and FDI exposed positive and statistically significant association with innovation output. In terms of directional causality, unidirectional causality running from EPU and FDI to innovation output was established, whereas bidirectional causality was established between institutional quality and innovation output.
