Inversión en I+D a nivel mundialun cambio estructural

  1. Félix J. López Iturriaga 1
  2. Emilio J. López-Millán 1
  1. 1 Universidad de Valladolid
    info

    Universidad de Valladolid

    Valladolid, España

    ROR https://ror.org/01fvbaw18

Journal:
Revista de Contabilidad y Tributación. CEF

ISSN: 2695-6896,  2792-8306

Year of publication: 2020

Issue: 446

Pages: 185-208

Type: Article

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More publications in: Revista de Contabilidad y Tributación. CEF

Abstract

It has been widely proved the subdue level of investment in innovation worldwide. In this paper we study the structural determinants of the innovation in order to enhance the institutional measures to increase the investment in innovation without additional expenditures. We analyze the effect of the national cultural, the efficiency and the effectiveness to draw foreign R&D investment. Our results suggest a «legal effect» since the structural determinants do affect only in the countries with a high enough legal security. It seems that an open mind and a long term orientation foster R&D expenditures. In the same vein, the efficiency innovation draws the foreign investment in R&D. On the contrary, the innovation effectiveness has the opposite impact, which could be explained because the investment opportunities are exploited by the domestic investors. Finally, there is a «substitution effect» of the government in the countries with low investment in innovation.

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