6. Macroeconomic Analysis: Methods and Results

Evolution of Theories and Empirical Models of a Relationship between Economic Growth, Science and Innovations (Part 2)

Maria A. Kaneva
1. Institute of Economics and Industrial Engineering SB RAS, Novosibirsk, Russia
2. Gaidar Institute for Economic Policy (The Gaidar Institute)
mkaneva@gmail.com
Galina A. Untura
Scopus Author ID: 56500650900
Researcher ID: G-4680-2019
1. Institute of Economics and Industrial Engineering SB RAS, Novosibirsk, Russia
2. Novosibirsk State University
galina.untura@gmail.com
The material was received by the Editorial Board: 01/03/2018
Abstract
This article is a second chapter of the analytical review of existing theoretical models of a relationship between economic growth / GDP and indicators of science and innovation activities and empirical approaches to testing this relationship. Aim of the paper is a systematization of existing approaches to modeling of economic growth geared by science and innovations. The novelty of the current review lies in the authors’ criteria of interconnectedness of theoretical and empirical studies in the systematization of a wide range of publications presented in a final table-scheme. In the first chapter of the article, the authors discuss evolution of theoretical approaches while in the second chapter they present a time gap between theories and their empirical verification caused by the level of development of quantitative instruments such as econometric models. Results of the current study can be used by researchers and graduate students for familiarization with current scientific approaches that manifest a progress from theory to the empirical verification of the relationship «economic growth-innovations» for improvement of different types of models in spatial econometrics. To apply these models to management practices the presented review could be supplemented with new criteria for classification of knowledge production functions and other theories about the effect of science on the economic growth.

Keywords:
economic growth, region, innovation activities, GRP, knowledge spillovers, economic theory

Evolution of Theories and Empirical Models of a Relationship between Economic Growth, Science and Innovations (Part 2)
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References: Kaneva М.А., Untura G.A. Evolution of Theories and Empirical Models of a Relationship between Economic Growth, Science and Innovations (Part 2). World of Economics and Management. 2018. Vol. 18, 1. P. 5–17. DOI: 10.25205/2542-0429-2018-18-1-5-17