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Can Innovation Save Us? Understanding the Role of Innovation in Mitigating the Covid-19 Pandemic in ASEAN-5 Economies

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  • Layos, Jerk Joshua Meire
  • Pena, Paul John

Abstract

The novel coronavirus (Covid-19) pandemic raises the question of whether innovation can save humanity. Indeed, as it always has, innovation is the path towards finding solutions such as vaccines, treatments and policies that mitigate the further spread of the virus. Since the announcement of a global pandemic on March 12, 2020, countries with relatively high levels of innovation remain high on the world rankings on new cases and deaths while countries considered relatively lower in innovation are not. We test the relationship between innovation systems and the ability of its pre-epidemic state to address the pandemic. We use a two-step System Generalized Method of Moments (GMM) to test this relationship using cases from the ASEAN-5 economies and their respective levels of innovation as reported in the Global Innovation Index. We find that the relationship between the level of innovation and a country’s ability to respond to the crisis to be significant and positive. We also find that search interest, an indicator of market response within an innovation context, to have a significant negative relationship with crisis management. We provide some preliminary analyses and insights on these two key findings as well as policy recommendations concerning innovation systems.

Suggested Citation

  • Layos, Jerk Joshua Meire & Pena, Paul John, 2020. "Can Innovation Save Us? Understanding the Role of Innovation in Mitigating the Covid-19 Pandemic in ASEAN-5 Economies," MPRA Paper 100152, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:100152
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    References listed on IDEAS

    as
    1. Stephen Bond & Anke Hoeffler, 2001. "GMM Estimation of Empirical Growth Models," Economics Series Working Papers 2001-W21, University of Oxford, Department of Economics.
    2. David Roodman, 2009. "How to do xtabond2: An introduction to difference and system GMM in Stata," Stata Journal, StataCorp LP, vol. 9(1), pages 86-136, March.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    coronavirus; covid-19; innovation systems; Triple Helix; ASEAN;
    All these keywords.

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • I10 - Health, Education, and Welfare - - Health - - - General
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General

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