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A Systems View Across Time and Space

Table 10 Results of test from error correction model

From: Does innovation promote economic growth? Evidence from European countries

Countries

Granger causality test between

RRD and GDP

HTE and GDP

STJ and GDP

Short-run

Long-run

Short-run

Long-run

Short-run

Long-run

Austria

3.20**/0.40

NA/NA

0.89/0.63

−3.18**/−0.99

1.64/6.54*

−1.53/−2.13

Belgium

13.6*/1.19

NA/NA

3.40*/0.48

NA/NA

0.32/5.03*

−1.29/−2.85

Czech Republic

5.14*/0.41

NA/NA

1.76/0.01

NA/NA

1.27/0.43

NA/NA

Denmark

0.46/5.28*

NA/NA

0.51/0.19

−1.92/−2.26

0.06/21.1*

−1.96/−4.13*

Finland

0.07/25.3*

NA/NA

18.3*/3.73**

−3.46**/−0.32

36.8*/0.92

−6.10/−2.12

France

3.12**/2.12

−2.35/−1.13

3.41*/0.09

NA/NA

8.21*/0.44

−0.66/−5.31*

Germany

5.31*/0.18

NA/NA

12.2*/3.07**

−5.94*/−1.82

0.40/4.06*

−2.65/−1.93

Greece

–/–

–/–

1.33/1.85

–/–

8.49*/5.33*

–/–

Hungary

7.12*/0.46

−4.14*/−1.26

1.20/19.6*

−2.25/−4.37*

5.29*/0.97

NA/NA

Ireland

0.99/3.62**

NA/NA

18.1*/0.26

NA/NA

2.02/4.19*

NA/NA

Italy

4.43*/0.47

NA/NA

2.10/9.59*

−3.64*/−2.07

0.02/11.4

−0.65/−4.68*

Netherlands

1.34/6.33*

NA/NA

7.60*/1.18

0.22/−2.65

3.51*/5.59*

NA/NA

Norway

0.01/5.86*

NA/NA

0.90/4.97*

−0.16/−3.90*

2.89**/6.04*

NA/NA

Poland

0.75/5.68*

−0.86/−1.90

0.67/3.03**

NA/NA

3.48**/3.05**

NA/NA

Portugal

9.83*/1.46

NA/NA

1.33/3.53*

NA/NA

17.9*/3.57**

−4.52*/−1.35

Romania

3.84*/3.74*

−7.97*/1.96

0.50/3.66*

−1.26/−3.61**

3.87*/1.85

NA/NA

Spain

0.15/6.46*

−0.62/−3.14

1.04/11.3*

NA/NA

5.58*/2.05

−1.15/−4.73*

Sweden

1.45/0.15

NA/NA

3.26*/0.87

−3.52**/−0.66

8.15*/4.55*

NA/NA

United Kingdom

9.47*/2.25

NA/NA

25.9*/0.82

NA/NA

1.14/9.10*

NA/NA

European panel

3.03*/2.95*

−6.15*/−1.23

7.95*/4.41*

−6.31*/−1.69

2.13/6.88*

−7.09*/−2.56

  1. RRD is the researchers in research and development activities; HTE is the high-technology exports; STJ is the scientific and technical journal articles; and GDP is per capita economic growth. The short-run causality is detected through the Wald statistics, while long-run causality is detected through the statistical significance of error correction term. For both short-run and long-run, the first value represents GDP as the dependent variable and the second value represents innovation (RRD/HTE/STJ) as the dependent variable
  2. *Indicates the statistical significance at 5% level; **indicates the statistical significance at 10% level