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From Research Productivity to Economic Growth: Monetizing Intangible Academic Value

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  • Gondauri, Davit
  • Mikautadze, Ekaterine

Abstract

This study develops and empirically audits a cross-country panel-econometric framework for measuring how research productivity and academic intangible value become economically visible. Rather than treating academic output as a universal short-run GDP-growth multiplier, the study constructs a layered measurement architecture in which the Research Productivity Index (RPI), Academic Intangible Value Index (AIVI), and Academic Value Monetization Index (AVMI) distinguish research production, broader academic intangible value, and monetization-oriented academic capacity. Using an effective lagged estimation sample of 464 economy-year observations across 39 economies for 2011-2022, the analysis combines pooled OLS, fixed-effects and two-way fixed-effects models, lag structures, dynamic and directional checks, transmission-channel regressions, component-exclusion designs, threshold and heterogeneity tests, robustness checks, advanced econometric extensions, level-output models, and GDP-equivalent monetization algorithms. The results support a disciplined and conditional interpretation: the direct full-sample AVMI effect on GDP per capita growth is positive but statistically imprecise, while stronger evidence appears through observable monetization channels. AVMI is most clearly associated with high-technology export outcomes, and productivity growth provides a strong transmission link to GDP per capita growth. The study therefore reframes academic value as an auditable intangible economic asset whose monetization depends on innovation output, technology-market participation, absorptive capacity, productivity transmission, and country-specific regimes. By translating empirical evidence into gross and net monetized academic value, Academic Economic Value Added (AEVA), conversion ratios, counterfactual scenarios, and policy-dashboard diagnostics, the study contributes a reproducible framework for evaluating academic value without overstating causality or reducing knowledge systems to a single coefficient.

Suggested Citation

  • Gondauri, Davit & Mikautadze, Ekaterine, 2026. "From Research Productivity to Economic Growth: Monetizing Intangible Academic Value," EconStor Preprints 341767, ZBW - Leibniz Information Centre for Economics.
    • Handle: RePEc:zbw:esprep:341767
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    References listed on IDEAS

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    Keywords

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    JEL classification:

    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
    • I23 - Health, Education, and Welfare - - Education - - - Higher Education; Research Institutions
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity

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