Abstract
The study relied on secondary data accessed from World Bank data base spanning over 37 years (1976-2012). Data obtained were analyzed using canonical cointegration regression (CCR) method. It was found that poor education (secondary school enrollment) was exerting negative influence on innovation levels in SSA (p<0.05) in the long-run. Credit to the private sector as well as value of official aids received, labour mobility proxied by number of passengers transported via air planes and electricity consumption were significantly and positively influencing the long-run level of innovation in the region. Their t-statistics were all significant at p<0.01. Based on the findings, the study recommended increased funding of education, RD international communities and donors especially should be encouraged to contribute to building global innovation systems by supporting SSA firms: While SSA countries should remove barriers to labour mobility through flexible immigration policies. Key words: Innovation, barriers, sub-Sahara African, economies ,cointegration analysis.
Highlights
Innovation may be defined as the purposeful implementation of new technical, economical, organizational and social problem solutions that are oriented to achieve the company objectives in a new way (UK Essays, 2014)
There was one series whose t-statistic became significant only after the 2nd differencing, that is an I(2), variable and so it was regarded as a deterministic variable while the others were treated as stochastic series in the canonical cointegration regression (CCR) modeling
This study has explored, through literature review and long-run econometric analysis to uncover some of the salient gaps and important drivers of innovation in SSA economies
Summary
Innovation may be defined as the purposeful implementation of new technical, economical, organizational and social problem solutions that are oriented to achieve the company objectives in a new way (UK Essays, 2014). The World Bank (2011) noted that agricultural development depends on innovation. It stressed that innovation is a major source of improved productivity, competitiveness, and economic growth throughout advanced and emerging economies, and plays an important role in creating jobs, generating income, alleviating poverty, and driving social development. World Bank added that if farmers, agribusinesses, and even nations are to cope, compete, and thrive in the midst of changes in agriculture and economy, they must innovate continuously. Investments in science and technology have key roles to play as it is a key component of most strategies to improve and maintain agricultural productivity and innovate. Education, and extension investments are necessary components but have not been sufficient for agricultural innovation to occur. In addition to a strong capacity in R&D, components of effective agricultural innovation are
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