Testing the causal relationship between indicators of the innovative environment and growth in the Swiss economy for the period (2007-2019)
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Abstract
The research aimed to study the causal relationship between the innovative environment expressed by indicators (spending on research and development, exports of advanced technology, patents, trademarks) and economic growth expressed by the growth rate of GDP in the Swiss economy during (2007-2019). In order to indicate whether the time series of variables are stationary or not, this required the use of unit root tests, and the degree of integration of each variable was determined separately. It was found that the variables are integrated of the first order, in addition to using the methodology (Toda & Yamamoto) for causation, in order to verify the existence of a long-term relationship between them. Through the analysis, it became clear that there is a long-term equilibrium relationship between the variables of the innovative environment and economic growth, in addition to the existence of some causal relationships, the most important of which is the existence of bidirectional causal relationship between economic growth and spending on research and development. Increasing spending on research and development in Switzerland will lead to an increase in gross domestic product, which This, in turn, leads to an increase in the rate of economic growth, and an increase in the latter in turn urges those in charge of the Swiss economy to increase spending on research and development. As well as the existence of bidirectional causal relationship between economic growth and brands, the increase of Swiss trademarks will lead to their spread in various countries of the world and this in turn will increase the gross domestic product and thus increase the rate of economic growth, and increasing the latter in turn will increase the number of trademarks. The results also showed that there is a causal relationship in unidirectional of economic growth to each of the exports of advanced technology and patents. By providing an environment that encourages education and invention, which leads to an increase in the number of inventions in the long term.
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