Premium
Different Impacts of Scientific and Technological Knowledge on Economic Growth: Contrasting Science and Technology Policy in E ast A sia and L atin A merica
Author(s) -
Kim Yee Kyoung,
Lee Keun
Publication year - 2015
Publication title -
asian economic policy review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.58
H-Index - 20
eISSN - 1748-3131
pISSN - 1832-8105
DOI - 10.1111/aepr.12081
Subject(s) - sociology of scientific knowledge , economics , scientific progress , panel data , business , industrial organization , sociology , econometrics , social science , philosophy , epistemology
This paper conducts country‐panel econometric analysis with a focus on the different roles of scientific and technological knowledge on economic growth and on the knowledge production functions. It finds that it is not scientific knowledge (academic articles) but technological knowledge (patents) that matters for economic growth, and that generating scientific knowledge does not automatically lead to the generation of technological knowledge. We find that technological knowledge is primarily determined by corporate research and development efforts, which used to be more lacking in L atin A merican countries, compared with E ast A sia. This finding sheds new light on the question of why L atin A merican and E ast A sian countries have shown such divergent economic performances.