Innovation in Latin America and the Caribbean: Analysis from the criterion of efficiency

Abstract

The purpose of this article is to contribute to the understanding of the innovative performance of Latin American and Caribbean countries from the perspective of efficiency. The indicators of the Global Innovation Index 2022 were used to analyze the relationship between the seven dimensions of input and output that comprise it. Significant differences in the innovative efficiency of these countries, grouped into three economic-geographical blocks defined on the basis of cluster analysis, were then examined. The results contribute to the state of the art associated, in general, with contributions on innovation in emerging economies. Specifically, they show significant relationships between innovation inputs and outputs essentially related to human capital and research. After comparing the averages, significant differences are found in innovation inputs and outputs, but not in the efficiency indicator.