Invest
Investigating the relation between innovation and
economic growth: The international approach
Mirnaser Mirbagheri hir1,
Safar Farhang2, and Azim
Aran3*
1Department of economics, Payame Noor
University, PO BOX 19395-3697 Tehran, I.R of IRAN
E-mail:[email protected]
2Department of economics, Payame Noor
University, PO BOX 19395-3697 Tehran, I.R of IRAN
3Science and Research Branch, Islamic Azad University,
Ardabil, Iran
*Corresponding Author: Azim Aran
Abstract: In
this article the effect of innovation, as one of the most basic axes of
science-based economy, on economic growth is investigated. To do so, the data
for time series of selected countries from 1960 to 2004 will be used. Using the
literature with the subject of economic growth within the frame of
international study or through panel data economy measurement, the results show
that during this period, by controlling effective variables, innovation has had
a positive and meaningful effect on long-term economy growth of developing
countries, members of OECD and developed countries; but the effect of
innovation on economic growth of developing countries wasn’t meaningful,
although it was positive; also the research results show that other
coefficients of variables like physical investment, human resources, growth
rate in goods and service importing, the primary gross national product,
intermediary and capital goods and services importing have expected and
meaningful signs in all groups. Categorizing JEL: O3 O40, C23
[Mirnaser
Mirbagheri hir, Safar Farhang and Azim Aran. Investigating
the relation between innovation and economic growth: The international
approach. Life Sci J 2013;10(4s):56-61] (ISSN:
1097-8135). http://www.lifesciencesite.com. 8
Keywords: science-based economy, economic growth and innovation
