Effect of financial development on innovation: roles of market institutions

• Main Authors: Trinugroho, Irwan, Law, Siong Hook, Lee, Weng Chang, Wiwoho, Jamal, Sergi, Bruno S.
• Format: Article
• Language: English
• Published: Elsevier 2021
• Online Access: http://psasir.upm.edu.my/id/eprint/96889/1/ABSTRACT.pdf; http://psasir.upm.edu.my/id/eprint/96889/; https://www.sciencedirect.com/science/article/pii/S0264999321001875
• Institution: Universiti Putra Malaysia

Studies show that the impact of financial markets on innovation is mixed. This paper examines whether financial development can help explain the pace of innovation in 68 developed and developing countries during 1995–2018. By utilizing panel data and incorporating market institutions (market creatin...