标题：Monetary and Fiscal Policy Regimes and Firm Innovation in Transition Economies and Residual Factors Explaining the Gap in Firm Innovation in Central Asian Economies
期刊名称：Journal of Applied Economics and Business Research
电子版ISSN：1927-033X
出版年度：2016
卷号：6
期号：1
页码：1-16
出版社：Journal of Applied Economics and Business Research
摘要：In this paper, we investigate the relationships between monetary and fiscal policy regimes and firm innovation in 25transition economies. Using three waves of the Business Environment and Enterprise Performance Survey, we findthat firm innovation increases with the inflation adjusted interest rate. Results also show that more stringent taxregimes lead to a decline in firm innovation. We then explore the factors attributable to the lag in innovativeactivities in the firms located in the Central Asian republics. We find that the current fiscal and monetary regimesactually reduce the gap between firm innovation in Central Asian and European transition economies. The residualgap can mainly be explained by differences in a variety of firm and country level characteristics.
关键词：Firm innovation; Transition economics; Business Environment and Enterprise Performance Survey;Central Asia
