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  • Empirical analysis in the context of economic, technological and institutional development: the distinction between innovator and imitator countries
    3-21
    Julianna Csugány
    Views:
    155

    The driving force of economic growth is technological progress, which can be realized in two ways at the aggregate level. On the one hand, it can be a result of independent research and development, i.e. it can be realized in an innovation-driven manner. Alternatively, it can be the result of an adaptation from other countries, i.e. through imitation, which is a strategy that many countries employ successfully today. In both cases, it is the institutions, including both their formal and informal elements, which create the opportunity for technological progress. The aim of this study is to differentiate between the innovator and the imitator countries in order to highlight the differences in their institutions. The classification is done by a cluster analysis of countries, which is performed with the help of a technological and institutional environment index constructed by a principal-component analysis. The analysis confirms that economic, technological and institutional development are closely linked in the countries studied.

    Journal of Economic Literature (JEL) codes: O31, O33, O43

  • The Complexity of Technological Progress: Empirical evidence in the European Union
    23-34
    Julianna Csugany
    Views:
    116

    The author examines the role of institutions in technological change on the basis of an understanding of the macroeconomic context of technological progress. The empirical study aims to demonstrate the macroeconomic relationship between economic growth, technological progress and institutions, using data from the member states of the European Union. This paper constructs a statistical model which accommodates the complexity of technological progress and contributes to the analysis of its different aspects. It concludes that the elements of the technological environment and an emphasis on the protection of property rights play an essential role in understanding the effects of technological progress on economic growth.

    Journal of Economic Literature (JEL) classifications: O11, O34, O43

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