Does innovation promote economic growth? Evidence from European countries

Journal of Innovation and Entrepreneurship

A Systems View Across Time and Space

Table 13 Summary of Granger causality test results

Supply-leading hypothesis of innovation-growth nexus			Demand-following hypothesis of innovation-growth nexus
Case 4	Case 5	Case 6	Case 4	Case 5	Case 6
Austria					Austria
Belgium	Belgium				Belgium
Czech Republic		Finland	Czech Republic
France	France	France	Denmark		Denmark
Germany		Hungary	Finland
Greece				Finland
Hungary					Germany
Italy	Italy			Hungary	Ireland
Portugal	Netherlands		Hungary	Norway	Italy
United Kingdom			Ireland	Poland
			Netherlands	Portugal
	Romania	Romania	Norway	Romania
	Spain	Spain	Poland	Spain	United Kingdom
	Sweden		Portugal		European panel
Feedback hypothesis of innovation-growth nexus			Neutrality hypothesis of innovation-growth nexus
Case 4	Case 5	Case 6	Case 4	Case 5	Case 6
Austria			United Kingdom	Austria
	Finland	Netherlands		Czech Republic	Czech Republic
	Germany	Norway		Denmark
		Poland		Greece
	Ireland	Portugal
		Sweden
Poland
	Portugal
Spain
Sweden
	United Kingdom
European panel	European panel

Case 4: cointegration between RRD and GDP; Case 5: cointegration between HTE and GDP; Case 6: cointegration between STJ and GDP. RRD is researchers in research and development activities, HTE is high-technology exports, STJ is scientific and technical journal articles, and GDP is per capita economic growth. Results are derived on the basis of Table 11 results