Education and Invention
AbstractModern growth theory puts invention on the center stage. Inventions are created by individuals, raising the question: can we increase number of inventors? To answer this question, we study the causal effect of M.Sc. engineering education on invention, using data on U.S. patents’ Finnish inventors and the distance to the nearest technical university as an instrument. We find a positive effect of engineering education on the propensity to patent, and a negative OLS bias. Our counterfactual calculation suggests that establishing 3 new technical universities resulted in a 20% increase in the number of USPTO patents by Finnish inventors.
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Bibliographic InfoPaper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 8537.
Date of creation: Aug 2011
Date of revision:
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Other versions of this item:
- Toivanen, Otto & Väänänen, Lotta, 2011. "Education and invention," Open Access publications from Katholieke Universiteit Leuven urn:hdl:123456789/325745, Katholieke Universiteit Leuven.
- I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
- O31 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-08-29 (All new papers)
- NEP-EDU-2011-08-29 (Education)
- NEP-INO-2011-08-29 (Innovation)
- NEP-IPR-2011-08-29 (Intellectual Property Rights)
- NEP-LAB-2011-08-29 (Labour Economics)
- NEP-TID-2011-08-29 (Technology & Industrial Dynamics)
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