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How Does Country Risk Affect Innovation? An Application To Foreign Patents Registered In The Usa

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  • Suhejla Hoti
  • Michael McAleer

Abstract

Innovation can occur at the national level under a wide range of settings. However, the leading innovative countries internationally have several common traits, including economic, financial and political stability, which are reflected in various measures of country risk. The purpose of the paper is to examine, for the first time, the relationship between the economic, financial and political country risk ratings, on the one hand, and innovation, as measured by a country's registered patents, on the other. The relationships between various monthly country risk ratings and registered patents are analyzed for the leading 12 foreign patenting countries in the USA from 1975 to 1997. The empirical results show that economic, financial and political risk ratings have a considerable impact on the innovative activities of the 12 countries. Total US patent applications are also influential in inducing innovation in the 12 countries. Such issues have not previously been addressed in the literature on country risk and innovation.

Suggested Citation

  • Suhejla Hoti & Michael McAleer, 2006. "How Does Country Risk Affect Innovation? An Application To Foreign Patents Registered In The Usa," Journal of Economic Surveys, Wiley Blackwell, vol. 20(4), pages 691-714, September.
    • Handle: RePEc:bla:jecsur:v:20:y:2006:i:4:p:691-714
    DOI: 10.1111/j.1467-6419.2006.00263.x
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    References listed on IDEAS

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    1. Suhejla Hoti & Michael McAleer & Daniel Slottje, 2006. "Intellectual Property Litigation Activity In The Usa," Journal of Economic Surveys, Wiley Blackwell, vol. 20(4), pages 715-729, September.
    2. Felix Chan & Dora Marinova & Michael McAleer, 2004. "Trends and volatilities in foreign patents registered in the USA," Applied Economics, Taylor & Francis Journals, vol. 36(6), pages 585-592.
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    Cited by:

    1. Cristian Barra & Nazzareno Ruggiero, 2023. "Quality of Government and Types of Innovation—Empirical Evidence for Italian Manufacturing Firms," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 14(2), pages 1749-1789, June.
    2. Michael McAleer & Les Oxley, 2006. "Intellectual Property And Economic Incentives," Journal of Economic Surveys, Wiley Blackwell, vol. 20(4), pages 483-491, September.
    3. Suhejla Hoti & Michael McAleer & Daniel Slottje, 2006. "Intellectual Property Litigation Activity In The Usa," Journal of Economic Surveys, Wiley Blackwell, vol. 20(4), pages 715-729, September.

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