249 Abolfazl Shahabadi, Zahra Heidari, Ali Tavassolinia. The Effect of Innovation Components on the Inflow of Foreign Direct Investment Macroeconomics Research Letter Volume 16. Issue 32. Autumn and Winter 2021. Pages 249 to 270. Research Paper The Effect of Innovation Components on the Inflow of Foreign Direct Investment Abolfazl Shahabadi 1 , Zahra Heidari 2 , Ali Tavassolinia *3 1 Professor of Economics, Department of Economics, Faculty of Social and Economic Sciences, Al-Zahra University, Tehran, Iran, Email: al.shahabadi@alzahra.ac.ir 2 Master in Economics, Department of Economics, Faculty of Social and Economic Sciences, Al-Zahra University, Tehran, Iran, Email: arefehheidari1995@gmail.com 3 Master in Economics, Faculty of Economics and Administrative Sciences, University of Mazandaran, Babolsar, Iran, Email: alitavassoli1994@gmail.com 10.22080/iejm.2023.24986.1952 Received: February 3, 2023 Accepted: March 13, 2023 Available online: April 4, 2023 Abstract With the emergence and expansion of the globalization phenomenon and the deepening of interactions and economic and trade relations between the countries of the world, the role and place of attracting foreign capital in the patterns of growth and development have become very important for countries that are facing financial difficulties, in a way that since the 80s, new factors and variables have been proposed as the stimulus for attracting foreign direct investment and have attracted the attention of economists. Therefore, according to this necessity, the purpose of the current research is to investigate the relationship between innovation and the inflow of foreign direct investment in the top 47 science-producing countries in the world from 2011 to 2020. For this purpose, the econometric approach of dynamic panel data and dynamic generalized moments estimator have been used to estimate the model. The results of the research model show that all the studied variables with different estimated coefficients have a positive and significant effect on foreign direct investment in a way that the improvement of each of the five variables of innovation inputs and the variable of corruption control, exchange rate, and degree of development of the countries used as control variables increases the volume of foreign direct investment in this category of countries. Keywords: Innovation, organizations and institutions, infrastructure, human capital and research, foreign direct investment. JEL Classification: O30 ،E02 ،F21 ،H54 ،J24 * Corresponding Author: Ali Tavassolinia Address: Department of Economics, University of Mazanddaran, Babolsar, Iran Email: alitavassoli1994@gmail.com Tel: +98-09390404861