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Technological innovation in new EU markets
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SYSNO ASEP 0390524 Document Type J - Journal Article R&D Document Type Journal Article Subsidiary J Článek ve WOS Title Technological innovation in new EU markets Author(s) Uzagalieva, A. (PT)
Kočenda, Evžen (NHU-C) RID
Menezes, A. G. (PT)Source Title Emerging Markets Finance and Trade - ISSN 1540-496X
Roč. 48, č. 5 (2012), s. 48-65Number of pages 18 s. Publication form Print - P Language eng - English Country US - United States Keywords European Union ; foreign direct investment ; international trade Subject RIV AH - Economics R&D Projects GAP403/12/0080 GA ČR - Czech Science Foundation (CSF) Institutional support NHU-C - PRVOUK-P23 UT WOS 000314507700004 DOI 10.2753/REE1540-496X480503 Annotation We analyze the role of innovation in the technological development of four new members of the European Union: the Czech Republic, Hungary, Poland, and Slovakia. For that purpose, we use a novel approach, modeling the empirical relationship between intraindustrial bilateral trade flows, which represent the level of technological progress, and innovation expenditures within the context of a gravity model having a set of appropriate instrumental variables to account for the potential endogeneity of innovation to trade. We show that innovation efforts in high-tech industries exhibit a strong effect on the technological progress of the region and they are closely linked to foreign direct investment and multinationals. As foreign-owned subsidiaries become a part of the innovation systems and industrial structure of the host country, they promote overall technological growth in the region. Workplace Economics Institute - CERGE Contact Tomáš Pavela, pavela@cerge-ei.cz, Tel.: 224 005 122 Year of Publishing 2013
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