Challenges for scholarly business research in Latin America

Nations consider R&D a fundamental way to spur business innovation, increase the international competitiveness of domestic firms, achieve higher levels of economic growth, and increase the social welfare of its citizens. The empirical evidence indicates that, in the Latin America region, investment in R&D is comparatively low, largely depends on public funds, and is highly concentrated in academic research with limited business applications. Empirical evidence suggests a lack of connection in the region between those who produce knowledge (academia) and those who use that knowledge (business practitioners). This paper argues that business schools in the region have a role to play filling this gap by conducting more research with real-world business applications and by fostering innovative entrepreneurship among business school students.