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Impacto De Las Patentes Sobre El Crecimiento Económico: Un Modelo Panel Cointegrado [Impact of Patents on Economic Growth: A Cointegrated Panel Data Model]

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  • Jacobo Campo Robledo

    ()
    (GEE - Grupo de Estudios Económicos - Superintendencia de Industria y Comercio)

Abstract

This article presents an empirical model of non-stationary and cointegrated panel data to explain the impact of industrial property, measured by patents, on the GDP of 10 Latin America countries during the period 1990 to 2010. Apply traditional unit root tests and unit root test of art, which incorporates a structural break and the cross-sectional dependence, proposed by Hadri and Rao (2008). Through the Pedroni (1999, 2000, 2004) cointegration test proves the existence of a long-term relationship between variables and estimates the long-run elasticities. The results show the existence of a positive relationship between the level of innovation and GDP.

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Bibliographic Info

Paper provided by HAL in its series Working Papers with number hal-00744361.

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Date of creation: 31 May 2012
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Handle: RePEc:hal:wpaper:hal-00744361

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Keywords: Economic Growth; Patents; Production Function; Panel Unit Roots; Panel.;

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  1. Gilbert, R. & Shapiro, C., 1988. "Optimal Patent Length And Breadth," Papers 28, Princeton, Woodrow Wilson School - Discussion Paper.
  2. Levin, Andrew & Lin, Chien-Fu & James Chu, Chia-Shang, 2002. "Unit root tests in panel data: asymptotic and finite-sample properties," Journal of Econometrics, Elsevier, vol. 108(1), pages 1-24, May.
  3. Kaddour Hadri & Yao Rao, 2008. "Panel Stationarity Test with Structural Breaks," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 70(2), pages 245-269, 04.
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  10. Chen, Yongmin & Puttitanun, Thitima, 2005. "Intellectual property rights and innovation in developing countries," Journal of Development Economics, Elsevier, vol. 78(2), pages 474-493, December.
  11. Chang, Yoosoon, 2002. "Bootstrap Unit Root Tests in Panels with Cross-Sectional Dependency," Working Papers 2000-01, Rice University, Department of Economics.
  12. Dennis Sánchez-Navarro & Jacobo Campo Robledo & Juan Pablo Herrera-Saavedra & Natalia Cantor-Vargas, 2012. "Construcción de un índice de regionalización para el Sistema Nacional de Propiedad Industrial (SPI)," ESTUDIOS ECONÓMICOS SIC 010090, SUPERINTENDENCIA DE INDUSTRIA Y COMERCIO.
  13. Peter Pedroni, 2000. "Fully Modified OLS for Heterogeneous Cointegrated Panels," Department of Economics Working Papers 2000-03, Department of Economics, Williams College.
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  15. Hasan, Iftekhar & Tucci, Christopher L., 2010. "The innovation-economic growth nexus: Global evidence," Research Policy, Elsevier, vol. 39(10), pages 1264-1276, December.
  16. Peter Pedroni, 1999. "Critical Values for Cointegration Tests in Heterogeneous Panels with Multiple Regressors," Department of Economics Working Papers 2000-02, Department of Economics, Williams College.
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  20. Futagami, Koichi & Iwaisako, Tatsuro, 2007. "Dynamic analysis of patent policy in an endogenous growth model," Journal of Economic Theory, Elsevier, vol. 132(1), pages 306-334, January.
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  22. Granger, C. W. J. & Newbold, P., 1974. "Spurious regressions in econometrics," Journal of Econometrics, Elsevier, vol. 2(2), pages 111-120, July.
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  24. Kao, Chihwa, 1999. "Spurious regression and residual-based tests for cointegration in panel data," Journal of Econometrics, Elsevier, vol. 90(1), pages 1-44, May.
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