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

Authors

  • Frederick Fagundes Alves Universidade Federal de Viçosa
    • Silvia Harumi Toyoshima Universidade Federal de Viçosa
      • Daniela Almeida Raposo Torres Universidade Federal de São João del Rei

        DOI:

        https://doi.org/10.22456/2176-5456.34568

        Keywords:

        National innovation system. Financial system. Causality.

        Abstract

        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.

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        Author Biographies

        Frederick Fagundes Alves, Universidade Federal de Viçosa

        Mestrando em Economia da Universidade Federal de Viçosa (DEE/UFV). E-mail: frederick.alves@ufv.br.

        Silvia Harumi Toyoshima, Universidade Federal de Viçosa

        Professora Associada do Departamento de Ciências Econômicas da Universidade Federal de Viçosa (DEE/UFV). E-mail: htsilvia@ufv.br.

        Daniela Almeida Raposo Torres, Universidade Federal de São João del Rei

        Doutora em Economia pela Universidade Federal de Minas Gerais. Professora do Departamento de Economia da Universidade Federal de São João del Rei (UFSJ).

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        Published

        2014-09-02

        How to Cite

        Alves, F. F., Toyoshima, S. H., & Torres, D. A. R. (2014). UNEQUAL FLOW OF THE FINANCIAL SYSTEM AND INNOVATIVE: AN ANALYSIS OF INEQUALITY BETWEEN RICH AND POOR COUNTRIES. Análise Econômica, 32(62). https://doi.org/10.22456/2176-5456.34568

        Issue

        Vol. 32 No. 62 (2014): setembro de 2014

        Section

        Artigos

        License

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