IJIE 2022, 1(1), 3; doi: 10.56502/IJIE1010003
Modelling Innovation and Growth in Panel Data
1 School of Education, University of Exeter, Exeter EX4 4PY, UK
2 School of Management, University of York, York YO10 5DD, UK;
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* Author to whom correspondence should be addressed.
Received: 2 Aug 2022 / Revised: 3 Dec 2022 / Accepted: 31 Oct 2022 / Published: 19 Dec 2022
This paper comprehensively reviews how innovation and growth are modelled in theoretical and empirical literature. We distinguish between economic modelling (microfounded) and econometric modelling (ad hoc). The two modelling approaches are complementary to each other for their comparative advantages in causality identification and forecasting performance. Popular models of the two approaches are illustrated and compared. We also propose an eclectic approach to combine the two approaches in one analysis framework.
Keywords: innovation; growth; panel data
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).
Mu, B.; Li, Y. Modelling Innovation and Growth in Panel Data. ijie 2022, 1, 3.
Mu B, Li Y. Modelling Innovation and Growth in Panel Data. International Journal of Innovation and Entrepreneurship. 2022; 1(1):3.
Mu, Boyu; Li, Yue. 2022. "Modelling Innovation and Growth in Panel Data." ijie 1, no. 1: 3.