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Patents, Innovations and Economic Growth in Japan and South Korea: Evidence from individual country and panel data

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  • Sinha, Dipendra

Abstract

This paper looks at the relationship between patents and economic growth in Japan and South Korea using both individual country and panel data. For the econometric estimation, we use annual data for 1963-2005. For Japan, we find that the logarithms of real GDP and the number of patents are cointegrated. For South Korea, we do find such evidence. For Japan, we find a two-way causality between the growth of real GDP and the growth of the number of patents. For panel data, we find that the logarithms of real GDP and the number of patents are cointegrated. We find some evidence that the growth of real GDP Granger causes the growth of the number of patents. However, we do not find any evidence of reverse causality.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 2547.

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Date of creation: 21 Mar 2007
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Handle: RePEc:pra:mprapa:2547

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Keywords: patents; innovations; panel data;

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  1. Pasaran, M.H. & Im, K.S. & Shin, Y., 1995. "Testing for Unit Roots in Heterogeneous Panels," Cambridge Working Papers in Economics 9526, Faculty of Economics, University of Cambridge.
  2. Kaddour Hadri, 2000. "Testing for stationarity in heterogeneous panel data," Econometrics Journal, Royal Economic Society, vol. 3(2), pages 148-161.
  3. 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.
  4. Pedroni, Peter, 2004. "Panel Cointegration: Asymptotic And Finite Sample Properties Of Pooled Time Series Tests With An Application To The Ppp Hypothesis," Econometric Theory, Cambridge University Press, vol. 20(03), pages 597-625, June.
  5. O'Keeffe, Michael, 2005. "Cross comparison of US, EU, JP and Korean companies patenting activity in Japan and in the Peoples Republic of China," World Patent Information, Elsevier, vol. 27(2), pages 125-134, June.
  6. Serena Ng & Pierre Perron, 1997. "Lag Length Selection and the Construction of Unit Root Tests with Good Size and Power," Boston College Working Papers in Economics 369, Boston College Department of Economics, revised 01 Sep 2000.
  7. Maddala, G S & Wu, Shaowen, 1999. " A Comparative Study of Unit Root Tests with Panel Data and a New Simple Test," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 61(0), pages 631-52, Special I.
  8. Belderbos, Rene, 2001. "Overseas innovations by Japanese firms: an analysis of patent and subsidiary data," Research Policy, Elsevier, vol. 30(2), pages 313-332, February.
  9. Prodan, I., 2005. "Influence of Research and Development Expenditures on Number of Patent Aplications: Selected Case Studies in OECD countries and Central Europe, 1981-2001," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 5(4).
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Cited by:
  1. Edwin Garces & Tugrul Daim, 2012. "Impact of Renewable Energy Technology on the Economic Growth of the USA," Journal of the Knowledge Economy, Springer, vol. 3(3), pages 233-249, September.

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