Impact of innovative performance on economic growth for Latin America

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Published: ene. 8, 2024
DOI: https://doi.org/10.54753/rve.v12i1.2042
Keywords:
Technological innovation, economic development, patents, Latin America

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Yajaira Pinzón
Facultad de Ciencias Económicas y Empresariales Universidad Autónoma de Madrid, Madrid, España
Ernesto Rodriguez-Crespo
español

Abstract

Latin America is characterized by the provision of natural resources worldwide; its pattern of commercial specialization is based on exports of primary products with low added value. Its infrastructure has not allowed it to adopt cutting-edge technologies for the technical specialization of its production and achieve higher levels of efficiency. For this reason, this research aims to examine the effect of the efficiency of innovative performance on economic development for 12 Latin American economies, during the period 2000-2021. Technological innovation is anticipated to play a vital role in the economic development and human social progress of the region. The methodological strategy will use Ordinary Least Squares, Fixed Effects and Random Effects econometric models. The data was obtained from official statistics, such as: World Development Indicators (2023), World Governance Indicators (2022) and Terrain Roughness Index (2012). Among its main results, it was found that technological innovation, measured by resident and non-resident patent applications, has a positive impact on the Gross Domestic Product per capita. These results are in line with empirical evidence that shows that technological change is real and plays an effective role in boosting economic production and improving the quality of life of the population. It is recommended that the region promote technological innovation so that it becomes a focus of international competition.

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How to Cite
Pinzón , Y., & Rodriguez-Crespo, E. (2024). Impact of innovative performance on economic growth for Latin America. Revista Económica, 12(1), 87–101. https://doi.org/10.54753/rve.v12i1.2042
Issue
Vol. 12 No. 1 (2024): RVE vol 12 (Enero-Junio 2024)
Section
RESEARCH ARTICLES
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