Search

Search Results

• 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