UNEQUAL FLOW OF THE FINANCIAL SYSTEM AND INNOVATIVE: AN ANALYSIS OF INEQUALITY BETWEEN RICH AND POOR COUNTRIES

• Autor(a) principal: Alves, Frederick Fagundes
• Data de Publicação: 2014
• Outros Autores: Toyoshima, Silvia Harumi, Torres, Daniela Almeida Raposo
• Tipo de documento: Artigo
• Idioma: por
• Título da fonte: Análise Econômica (Online)
• Texto Completo: https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/34568
• topic: Sistema nacional de inovação. Sistema financeiro. Causalidade.; O16; O31; O57.; National innovation system. Financial system. Causality.; O16; O31; O57.

This paper aimed to identify the relationship between the financial system and the innovation system, and fill a gap in the literature that there is financing of technological progress. From empirical analysis panel for two groups of countries (highest and lowest GDP per capita), in the period between 1980 and 2010, there was the existence of a relationship of causality between the financial variable and technological variable, in case of developed countries. Already, for peripheral countries, there is a lack of long-term causality between the financial system and the technological. It is concluded that there is need to adopt policies to encourage the development of both the domestic financial system as the national system of innovation in poorer economies, aiming to raise its growth rate on a sustained basis.