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A Study on Innovation Barriers

  • Journal of Asia-Pacific Studies
  • Abbr : JAPS
  • 2022, 29(4), pp.225-247
  • DOI : 10.18107/japs.2022.29.4.008
  • Publisher : Institute of Global Affairs
  • Research Area : Social Science > Social Science in general
  • Received : November 5, 2022
  • Accepted : December 14, 2022
  • Published : December 30, 2022

CIN BEOM CHEOL 1 Eui Young Lee 2

1경기대학교
2군산대학교

Accredited

ABSTRACT

This paper empirically examines correlations among innovation barriers and their deteminants, using data basis merging 2016 and 2018 Korea’s Innovation Survey data implemented by STEPI. Our empirical results, first, show that the null hypothesis that innovation barriers are not related each other. statistically rejected. In estimation of the multivariate probit model, all correlation coefficients between the innovation barriers such as the cost of innovation projects, lack of firm capability and market conditions are found to be statistically significant, which means that ignoring the potential interrelation of innovation barriers can lead to biased results. This implies that government should provide incentive and financial support to promote innovation activities for expansion of market efficients and reduction of innovation barriers. Second, our empirical results show that the effects of R&D activities are different, depending on the types of innovation barriers. Internal R&D and joint R&D activities positively affect all types of innovation barriers but external R&D activities only affect the lack of firm capacity significantly. Finally, our empirical results show that R&D cooperation and legal protection for innovation have negative effects on innovation barriers. These suggest that government policies are needed for promotion of innovation activities to overcome innovation barriers. In particular, government needs to support SMEs to reduce innovation barriers through the promotion of R&D cooperation with other firms or research institutes and through the expansion of R&D investment.

Citation status

* References for papers published after 2022 are currently being built.