Correlation between Innovation Inputs and the economic growth of countries

• DOI: 10.22533/at.ed.2163262303102

• Palavras-chave: Crecimiento económico, Innovación, Índice Global de Innovación, Correlación, PIB per cápita, Investigación & Desarrollo, indicadores, Países Latinoamericanos

• Keywords: Economic growth, Innovation, Global Innovation Index, Correlation, GDP per capita, Research & Development, indicators, Latin American Countries

• Abstract:

  There is an intrinsic connotation of a positive relationship between the terms of economic development and innovation. However, the full understanding of the phenomenon, despite multiple studies, is far from complete. One of the factors that contributes to this shortcoming is the difficulty of properly conceptualizing and measuring innovation, so much so that the empirical studies carried out have found that the benchmark for innovation is only the level of investment in Research and Development (R&D). This work provides a new and original vision of how to relate these two variables characterizing innovation with the inputs (pillars) that originate it according to the theoretical framework of the Global Innovation Index and economic development with GDP per capita. The article is a correlational, non-experimental study, with longitudinal data ranging from 2010 to 2022 from five Latin American countries. Among the main results were: The correlation with the “Institutions” pillar is the one with the greatest weight, there are two pillars whose correlation is rejected, these results can be explained by the type of countries that make up the sample or by the construction of the indicator. It must be noted that in addition to its originality due to its focus on innovation, it is one of the few studies carried out in developing countries. Its main limitation is not having characterized causality.