Authors:
Vito Bobek Faculty of Economics and Business, University of Maribor, Razlagova ulica 14, 2000 Maribor, Slovenia

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Lara Weitgasser Institute of International Management and Entrepreneurship, University of Applied Sciences FH Joanneum, Graz, Austria

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https://orcid.org/0009-0002-1997-6786
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Tatjana Horvat Faculty of Management, University of Primorska, Koper, Slovenia

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Abstract

This research investigates the causal relationship between innovation, financial development and economic growth in Brazil, Chile, Colombia, Mexico and Peru between 2000 and 2019. Based on quantitative analysis, including vector autoregressive (VAR) models, it can be concluded that bidirectional Granger-causalities are present in the trivariate nexus in the five Latin American countries over the investigated times. Consequently, the three variables support forecasting and policy implications focusing on one of the three sectors that impacts the other two in the future. The paper concludes that imitation and innovation policies focusing on intellectual property rights protection, education, knowledge, institutional change and technological catch-up are necessary to foster economic growth and financial development.

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  • Castellacci, F.Natera, J. M. (2016): Innovation, Absorptive Capacity and Growth Heterogeneity: Development Paths in Latin America 1970–2010. Structural Change and Economic Dynamics, 37: 2742. https://doi.org/10.1016/j.strueco.2015.11.002.

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  • Jalil, A.Rao, N. H. (2019): Time Series Analysis (Stationarity, Cointegration, and Causality). In: Özcan, B.Öztürk, I. (eds): Environmental Kuznets Curve (EKC), Academic Press, pp. 8599. https://doi.org/10.1016/B978-0-12-816797-7.00008-4.

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Senior editors

Editors-in-Chief: István P. Székely, Dóra Győrffy

Editor(s): Judit Kálmán

Associate Editors

  • Péter Benczúr, Joint Joint Research Center, European Commission
  • Dóra Benedek, International Monetary Fund
  • Balázs Égert, OECD
  • Dániel Prinz, World Bank
  • Rok Spruk, University of Ljubljana, School of Economics and Business, Slovenia

Editorial Board

  • Anders Åslund, Georgetown University and Advisory Council of CASE, USA
  • István Benczes, Corvinus University of Budapest, Hungary 
  • Agnieszka Chłoń-Domińczak, SGH Warsaw School of Economics, Poland
  • Fabrizio Coricelli, University of Siena, Italy
  • László Csaba, Corvinus University of Budapest, Hungary and Central European University, Austria
  • Beáta Farkas, Faculty of Economics and Business Administration, University of Szeged, Hungary
  • Péter Halmai, Budapest University of Technology and Economics, and National University of Public Service, Hungary
  • Martin Kahanec, Central European University, Austria
  • Michael Landesmann, The Vienna Institute for International Economic Studies (WIIW), Austria
  • Péter Mihályi, Corvinus University of Budapest, Hungary
  • Debora Revoltella, European Investment Bank

Corvinus University of Budapest
Department of Economics
Fővám tér 8 Budapest, H-1093, Hungary
E-mail: judit.kalman@uni-corvinus.hu

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2023  
Web of Science  
Journal Impact Factor 0.7
Rank by Impact Factor Q3 (Economics)
Journal Citation Indicator 0.23
Scopus  
CiteScore 1.4
CiteScore rank Q3 (Economics and Econometrics)
SNIP 0.385
Scimago  
SJR index 0.218
SJR Q rank Q4

Acta Oeconomica
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Acta Oeconomica
Language English
Size B5
Year of
Foundation
1966
Volumes
per Year
1
Issues
per Year
4
Founder Magyar Tudományos Akadémia
Founder's
Address
H-1051 Budapest, Hungary, Széchenyi István tér 9.
Publisher Akadémiai Kiadó
Publisher's
Address
H-1117 Budapest, Hungary 1516 Budapest, PO Box 245.
Responsible
Publisher
Chief Executive Officer, Akadémiai Kiadó
ISSN 0001-6373 (Print)
ISSN 1588-2659 (Online)

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