Does institutional quality affect firms’ decision to invest in R&D? This paper investigates the idea that well-functioning pro-market institutions spur firms’ R&D propensity by reducing transaction costs and uncertainties related to research and innovation activities. Evidence from the World Bank Enterprise Surveys on a large sample of firms in 57 developing and transition economies between 2002 and 2017 corroborates this idea. Controlling for countries’ level of economic development, industry fixed effects and a number of firm-level characteristics, the results show that firms’ propensity to invest in R&D is higher in countries in which national institutions ensure socio-political stability and enforcement of law and contracts.

制度质量会影响企业投资研发的决定吗？本文研究了运作良好的亲市场机构通过降低与研究和创新活动相关的交易成本和不确定性来刺激企业的研发倾向的想法。世界银行企业调查在 2002 年至 2017 年期间对 57 个发展中和转型经济体的大量公司样本进行的证据证实了这一观点。控制国家经济发展水平、行业固定效应和一些企业层面的特征，结果表明，在国家机构确保社会政治稳定和执法和执法的国家，企业投资研发的倾向更高。合同。