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Education and Invention

  • Toivanen, Otto
  • Väänänen, Lotta

Modern 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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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 8537.

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Date of creation: Aug 2011
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Handle: RePEc:cpr:ceprdp:8537
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  7. Frenette, Marc, 2009. "Do universities benefit local youth? Evidence from the creation of new universities," Economics of Education Review, Elsevier, vol. 28(3), pages 318-328, June.
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  9. Daron Acemoglu, 2002. "Technical Change, Inequality, and the Labor Market," Journal of Economic Literature, American Economic Association, vol. 40(1), pages 7-72, March.
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  11. Hidehiko Ichimura & Christopher Taber, 2002. "Semiparametric Reduced-Form Estimation of Tuition Subsidies," American Economic Review, American Economic Association, vol. 92(2), pages 286-292, May.
  12. Dr Martin Weale, 1997. "Income distribution and income dynamics in the United Kingdom," NIESR Discussion Papers 221, National Institute of Economic and Social Research.
  13. Toivanen, Otto & Väänänen, Lotta, 2010. "Returns to Inventors," CEPR Discussion Papers 7744, C.E.P.R. Discussion Papers.
  14. Kelchtermans, Stijn & Verboven, Frank, 2010. "Program duplication in higher education is not necessarily bad," Journal of Public Economics, Elsevier, vol. 94(5-6), pages 397-409, June.
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