Another look at cultural and institutional determinants of R&D investment: a worldwide study

Autores/as

  • Emilio López-Millán University of Valladolid/Instituto Castellano de Inversión y Desarrollo
  • Félix J. López-Iturriaga University of Valladolid

Palabras clave:

culture, innovation, institutional framework, R&D Investment

Resumen

We analyze a sample of 65 countries to examine the national structural and cultural determinants of R&D investment. Our findings suggest the existence of a legal effect, wherein other structural determinants are effective only in countries with a strong rule of law. Additionally, we find that cultural openness and long-term orientation are positively associated with R&D investment. While innovation efficiency attracts foreign R&D investment, innovation efficacy acts as a deterrent, as profitable innovation opportunities are typically seized by domestic investors. Furthermore, we identify a substitution effect, in which the government compensates for insufficient investment from both domestic and foreign investors.

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Citas

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Publicado

2026-01-30

Cómo citar

López-Millán, E., & López-Iturriaga, F. J. (2026). Another look at cultural and institutional determinants of R&D investment: a worldwide study. Economics and Business Letters, 15(1), 44–55. Recuperado a partir de https://reunido.uniovi.es/index.php/EBL/article/view/22529

Número

Vol. 15 Núm. 1 (2026): March

Sección

Artículos

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