Does income redistribution impede innovation? |
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| Institution: | 1. Industrial Systems Engineering & Management, National University of Singapore, Collect of Design and Engineering, Block E1A, #06-25, 1 Engineering Drive 2, Singapore 117576, Singapore;2. MIS Department, Faculté des sciences de l''administration, Université Laval Québec, QC G1V 0A6, Canada;3. Department of Strategic Management & Entrepreneurship, Rotterdam School of Management, Burgemeester Oudlaan 50, 3062PA Rotterdam, the Netherlands;4. Institute for Engineering Leadership, National University of Singapore, #05-49, 4 Engineering Drive 3, Singapore 117583, Singapore;1. Center for SMEs and Venture Business Research, Korea Institute for Industrial Economics and Trade (KIET), 370 Sicheong-daero, Sejong 30147, South Korea;2. Centre for Transformative Innovation, Swinburne University of Technology, Mail H25, PO Box 218 Hawthorn, VIC 3122, Australia;1. Department of Management, Lund University School of Economics and Management, Sweden;3. Technical University of Munich, Germany;1. University of Liverpool Management School, United Kingdom;2. Department of Strategy and Innovation, Copenhagen Business School, Denmark;1. ESMT Berlin, Germany;2. Sternitzke Ventures UG, Germany;3. University of Würzburg, Germany |
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| Abstract: | Economic inequalities have increased in many countries since the 1980s, provoking calls for more income redistribution. One argument against increased redistribution is that it could hamper innovation and technological progress. To the best of our knowledge, this is the first paper that empirically investigates the relationship between government redistributive policies at the top of income distribution and innovative activity using new, high-quality, cross-country comparable panel data on income redistribution from the Distributional National Accounts. This study analyzes data from 34 advanced and emerging countries between 1980 and 2010. We find that redistribution has no negative impact on innovation in the cross-country setting. This result is robust to various measures of income redistribution and patent-based indicators of innovation, including patent counts, patent citations, and patent originality. |
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