Patents, Innovation and Growth
AbstractNew growth theories emphasize the role played by innovation in promoting economic growth. Since it is difficult to quantify the amount of innovation undertaken in an economy, there is little available empirical evidence assessing the contribution made by innovation to growth, in contrast to abundant evidence on the role of physical capital accumulation in the growth process. In this paper patent data are used to proxy the amount of innovation undertaken in an economy. The patent data are used to explore two questions. First, how important is innovation to economic growth in Australia, and second, are reductions in innovations sourced in Australia offset by increases in foreign sourced innovations in Australia? Copyright 2000 by The Economic Society of Australia.
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Bibliographic InfoArticle provided by The Economic Society of Australia in its journal The Economic Record.
Volume (Year): 76 (2000)
Issue (Month): 234 (September)
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- Sedgley, Norman & Elmslie, Bruce, 2010. "Reinterpreting the Jones critique: A time series approach to testing and understanding idea driven growth models with transitional dynamics," Journal of Macroeconomics, Elsevier, vol. 32(1), pages 103-117, March.
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- Goni, Edwin & Maloney, William F., 2014. "Why don't poor countries do R&D ?," Policy Research Working Paper Series 6811, The World Bank.
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