Abstract
It is an undoubtful fact that economic growth depends, ultima ratio, on the production of new ideas. This article aims to contribute to the long-standing debate on the choice of the best proxy to measure innovation and technological diffusion, by offering alternative variables which are tested empirically by means of a panel dataset of 73 countries between 1980 and 2005. Two different proxies of technological progress (patents and a Intellectual Property Rights Index) are used to explain different growth rates of income per capita and, after controlling for endogeneity, our results suggest that both have a positive effect on innovation (and economic growth).
Original language | English |
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Pages (from-to) | 81-96 |
Number of pages | 17 |
Journal | Research in Economics |
Volume | 64 |
Issue number | 2 |
Early online date | 10 Nov 2009 |
DOIs | |
Publication status | Published - Jun 2010 |
Keywords
- growth
- innovation
- patents
- intellectual property rights
- fixed effects
- GMM