TY  - EJOU
AU  - Mu, M. Boyu
AU  - Li, L. Yue
TI  - Modelling Innovation and Growth in Panel Data
T2  - International Journal of Innovation and Entrepreneurship

PY  - 2022
VL  - 1
IS  - 1
SN  - 2753-6297

AB  - 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.
KW  - innovation
KW  - growth
KW  - panel data
DO  - 10.56502/IJIE1010003