State of Innovation

Patents and Innovation Economics

Another Study Showing Economic Growth is Connected to Patents

This empirical study investigates the dynamic link between patent growth and GDP growth in G7 economies by Josheski, Dushko and Koteski, CaneGoce Delcev University-Stip, Goce Delcev University-Stip.  Here are some interesting quotes from the paper.

Technological change has been regarded as a major source of long-run productivity growth (Romer, 1990, Grossman and Helpman, 1991), with innovation no longer being treated as an exogenous process.

Johansen’s procedure for cointegration showed that long run multipliers are positive between the patent growth and GDP growth in G7 economies.  Granger causality test showed that patent growth Granger cause GDP growth in G7 countries.  Unrestricted VAR showed that there exists positive relationship between patent growth and GDP growth at two or three lags.

 

Advertisements

September 19, 2011 - Posted by | -Economics, Patents | ,

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: