The Impact of Social Capital on Innovation: Evidence From Quantile Panel Regressions

Document Type : Research Paper

Author

Associated Professor of Economics, Department of Management and Economics, Faculty of Humanities and Social Sciences, Golestan University, Gorgan, Iran.

Abstract

The concept and importance of collective interactions and moral virtues in the structure of society and economy are rooted in the ages of history. The explanation of this issue in the history of science has led to the production of an important concept called social capital. This concept has important effects on economic and social variables. Theoretical foundations show that social capital can be effective on variables such as knowledge and innovation. This study investigates the factors influencing innovation across countries worldwide, with a particular focus on the role of social capital. Social capital can enhance the business environment and reduce transaction costs, thereby fostering knowledge dissemination and innovation. To achieve the research objectives, data from 113 countries over the period 2013-2022 were analyzed using the quantile panel regression method. To facilitate comparison, countries were categorized into four income groups: low-income, lower-middle-income, upper-middle-income, and high-income. Separate estimates were provided for each category. The findings indicate that population, democracy, and government expenditure are significant determinants of innovation, with their impact being more pronounced in high-income countries. Population has a positive effect on innovation for countries that have been able to provide appropriate infrastructure. The analysis reveals that social capital exerts a positive and significant effect on innovation. This effect is stronger in high-income countries. Furthermore, quantile estimates demonstrate that the impact of social capital on innovation varies significantly across different quantiles. Consequently, external factors in each country play a crucial role in determining the extent to which social capital influences innovation.

Keywords

References

منابع
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Innovation EconomicEcosystem Studies
Volume 4, Issue 1
June 2024
Pages 21-41

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