Research paper on Evidence from Developing Nations on Trade Policy Uncertainty and Medical Innovation

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Title: Evidence from Developing Nations on Trade Policy Uncertainty and Medical Innovation

Abstract: The impact of trade policy uncertainty on medical innovation investment in developing countries is examined in this study from 1980 to 2020, with a particular emphasis on the COVID-19 era. In a double difference-in-differences analysis, we used exogenous and heterogeneous exposure to trade policy uncertainty resolutions from developing countries’ trade policy adjustments to reduce tariff increases on imported goods. Both long-run and short-run analyses of ARDL with PVAR have been studied. The results showed that decreasing tariff uncertainty fosters innovation in ways other than patent applications, margin reaction, and exports. The findings are not significantly affected by long-term effects of sectoral innovation patterns, governmental changes, or the introduction of foreign technology into developing countries. This study also demonstrates a long-term connection between R&D spending, trade policy uncertainty, and medical innovation. Research and development’s positive response to the innovation shock and innovation’s negative response support both bidirectional and unidirectional causality. This study makes a significant contribution to medical innovation and policy uncertainty in terms of developing nations and, more importantly, in terms of trends in medical innovation and current policy uncertainty given the influx of foreign technology and the significance of that technology in recent years.

Keywords: trade policy; uncertainty; innovation; patents; developing nations

Paper Quality: SCOPUS / Web of Science Level Research Paper

Subject: Economics

Writer Experience: 20+ Years

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