Financial development and innovation: Do institutions and human capital matter?

This paper explores the dynamic link between financial development and innovation, while accounting for human capital and institutional quality for 29 OECD countries spanning 40 years (1980–2019). The findings based on Generalized Method of Moments (GMM) and the Fully Modified Ordinary Least Squares...

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Detalles Bibliográficos
Autores principales: Atsu, Francis, Adams, Samuel
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Elsevier 2023
Materias:
Research Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10457509/
https://www.ncbi.nlm.nih.gov/pubmed/37636354
http://dx.doi.org/10.1016/j.heliyon.2023.e19015
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author Atsu, Francis
Adams, Samuel
author_facet Atsu, Francis
Adams, Samuel
author_sort Atsu, Francis
collection PubMed
description This paper explores the dynamic link between financial development and innovation, while accounting for human capital and institutional quality for 29 OECD countries spanning 40 years (1980–2019). The findings based on Generalized Method of Moments (GMM) and the Fully Modified Ordinary Least Squares (FMOLS) estimators show that trade, institutional quality, human capital and financial development promote innovation activities, while foreign direct investment has the opposite effect. Further, the findings show a non-linear relationship between finance and innovation.
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spelling pubmed-104575092023-08-27 Financial development and innovation: Do institutions and human capital matter? Atsu, Francis Adams, Samuel Heliyon Research Article This paper explores the dynamic link between financial development and innovation, while accounting for human capital and institutional quality for 29 OECD countries spanning 40 years (1980–2019). The findings based on Generalized Method of Moments (GMM) and the Fully Modified Ordinary Least Squares (FMOLS) estimators show that trade, institutional quality, human capital and financial development promote innovation activities, while foreign direct investment has the opposite effect. Further, the findings show a non-linear relationship between finance and innovation. Elsevier 2023-08-07 /pmc/articles/PMC10457509/ /pubmed/37636354 http://dx.doi.org/10.1016/j.heliyon.2023.e19015 Text en © 2023 The Authors https://creativecommons.org/licenses/by-nc-nd/4.0/This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/).
spellingShingle Research Article
Atsu, Francis
Adams, Samuel
Financial development and innovation: Do institutions and human capital matter?
title Financial development and innovation: Do institutions and human capital matter?
title_full Financial development and innovation: Do institutions and human capital matter?
title_fullStr Financial development and innovation: Do institutions and human capital matter?
title_full_unstemmed Financial development and innovation: Do institutions and human capital matter?
title_short Financial development and innovation: Do institutions and human capital matter?
title_sort financial development and innovation: do institutions and human capital matter?
topic Research Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10457509/
https://www.ncbi.nlm.nih.gov/pubmed/37636354
http://dx.doi.org/10.1016/j.heliyon.2023.e19015
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AT adamssamuel financialdevelopmentandinnovationdoinstitutionsandhumancapitalmatter

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