The Impact of Patents and Standards on Macroeconomic Growth: A Panel Approach Cover in 4 Countries and 12 Sectors
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.
|Classification:||Publications with Economic / Trade Focus|
|Authors||Andre Jungmittag, Knut Blind|
|Other bibliographical information:||Paper presented at the AEA conference on innovations and intellectual property values, Paris, 20 October 2005.|