How to measure innovation? New evidence of the technology-growth linkage
AbstractIt 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).
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Bibliographic InfoArticle provided by Elsevier in its journal Research in Economics.
Volume (Year): 64 (2010)
Issue (Month): 2 (June)
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Web page: http://www.elsevier.com/locate/inca/622941
Growth Innovation Patents Intellectual property rights Fixed effects GMM;
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