91

This paper introduces a robust empirical investigation on Triple Helix, Quadruple Helix, and their key drivers. The research questions are (i) how are Triple and Quadruple Helix models characterized in general and in the context of ASEAN-5? (ii) How effective are the relationships among the actors of different helixes in this region? The panel econometric analysis with cross-sectional dependence (CD) test is used to investigate the relationship and coevolution patterns within these. The empirical analysis employs innovation indicators of five founding ASEAN countries, namely Malaysia, Indonesia, Singapore, the Philippines, and Thailand, for the period 2000-2015, from an existing WDI, GEM and WCY database. Econometric results support the two research questions of this study; first there is a significant relationship between the innovation outcome and its key drivers of different helixes in ASEAN-5 economies. Second, the extent of the relationship within government R&D expenditure in volume, post-school entrepreneurial education and training, financing entrepreneurs with high-tech productions, is positive and significant, while new ideas coming from universities in a number of scientific publications, existing government support and policies, and internal market dynamics, have a weak impact on high-tech production in ASEAN-5 countries. JEL Codes: O20, O30, O57