The impact of patents and standards on macroeconomic growth: a panel approach covering four countries and 12 sectors |
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| Authors: | Knut Blind Andre Jungmittag |
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| Institution: | 1.Innovation Economics,Berlin University of Technology,Berlin,Germany;2.Fraunhofer Institute for Systems and Innovation Research, Berlin Office,Berlin,Germany;3.Macroeconomic Theory and Policy, FB B,University of Wuppertal,Wuppertal,Germany |
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| Abstract: | Based on the assumption that codified technological know-how contributes to economic growth, this paper presents the estimation
of a Cobb–Douglas production function, pooling data from four European countries and 12 sectors. The empirical results confirm
that both the stock of patents and the stock of technical standards contribute significantly to economic growth in the 1990s.
Whereas the results of the country models are rather similar, we observe significant differences between the sector models,
which indicate that standards are more important for growth in less R&D-intensive industries and patents in R&D-intensive
industries.
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| Keywords: | Growth Innovation Standards Patents Country effects Industry effects |
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