Abstract

GUTIERREZ FLORES, Luis  and  FLORES PEREZ, Jonathan. Factors which stimulate innovation activity in Latin America: a VECM approach. Econ. soc. territ [online]. 2019, vol.19, n.61, pp.373-403.  Epub May 26, 2020. ISSN 2448-6183.  https://doi.org/10.22136/est20191366.

This document presents the results of an inquiry studying the factors that stimulate innovation in Latin America during 2006-2017. Methodologically, the research is based on a vector error correction model (VECM) which estimates the value of long-term equilibrium between the variables. The results suggest the existence of a positive and significant relationship of equilibrium. It is concluded that in the countries of the region dominated by economic activities with low technological content, the absorption of enterprise technology is more important than spending on R+D at the company level.

Keywords : innovation; vector error correction model; cointegration; Latin America.

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