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Publication Information
Published by: Admin
Published: 1 month ago
View: 26
Pages: 33
ISBN: 1
Download PDF (EN)
Abstract
This study
has two main objectives: first, to investigate the unconditional effects of
research productivity on economic complexity, and second, to examine the
synergistic relationship between financial development and research
productivity in bolstering Africa’s economic complexity. The
estimation framework is designed to analyze how research productivity (i.e.,
quantity and quality of scholarly work produced) is moderated by both financial
depth and the size of financial intermediaries, thereby positively influencing
economic complexity. The analysis employs the dynamic system generalized method
of moments (GMM) and the static Fixed Effects estimation with Driscoll–Kraay
standard errors (DK), using data from 36 African economies over the period
2010–2023. The baseline estimation approach (i.e., System GMM) is designed to
ensure valid model selection, mitigate variable omission bias, and prevent
instrument proliferation. The study reveals several key findings: First,
financial development consistently moderates the negative impact of research
productivity on economic complexity, emphasizing its role as a potent channel
for enhancing economic complexity in Africa. Second, factors such as renewable
energy consumption and ICT diffusion are critical in boosting the region's
economic complexity. The policy implications of these findings are also
discussed in line with the Sustainable Development Goals (SDGs).
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