How does Corruption Affect Innovation? - New Evidence from Macro-level Data

被引:0
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作者
Praveen Kumar
机构
[1] Finance and Accounting Area,
[2] Indian Institute of Management Jammu,undefined
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关键词
Corruption; Innovation; Risk; R&D; Development; Sand-the-wheels theory;
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摘要
This article explores the connection between a country’s corruption-related risk exposures and innovations. For this purpose, I performed two fixed-effects panel-data regression models by utilizing Research and Development (R&D) expenditure as a dependent variable and absolute corruption scores & degree of corruption-related risks exposures as independent variables in the presence of five control variables for 2019–2021. The corruption scores & degree of corruption-related risk exposures were collected from the Risk Indexes database. Data related to other variables, such as R&D expenditure, Industry structure, Energy Prices, and Urbanization levels, were fetched from the website of World Bank indicators. Further, the Population data were obtained from the worldmeters database. Consistent with the Sand-the-wheels theory, this research found that the country’s high corruption-related risk exposures negatively influence innovations. On the other hand, the lower degree of corruption-related risks boosts innovations in an economy. This study provides policymakers with significant implications of the country’s corruption-related risk exposures in the best interests of the world’s stakeholders.
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页码:925 / 941
页数:16
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