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Political Sentiment and Innovation: Evidence from Patenters

Author

Listed:
  • Joseph Engelberg
  • Runjing Lu
  • William Mullins
  • Richard R. Townsend

Abstract

We document political sentiment effects on US inventors. Democratic inventors are more likely to patent (relative to Republicans) after the 2008 election of Obama but less likely after the 2016 election of Trump. These effects are 2-3 times as strong among politically active partisans and are present even within firms over time. Patenting by immigrant inventors (relative to non-immigrants) also falls following Trump’s election. Finally, we show partisan concentration by technology class and firm. This concentration aggregates up to more patenting in Democrat-dominated technologies (e.g., Biotechnology) compared to Republican-dominated technologies (e.g., Weapons) following the 2008 election of Obama.

Suggested Citation

  • Joseph Engelberg & Runjing Lu & William Mullins & Richard R. Townsend, 2023. "Political Sentiment and Innovation: Evidence from Patenters," NBER Working Papers 31619, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:31619
    Note: LS POL PR
    as

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    More about this item

    JEL classification:

    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • M5 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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