The Impact of Standards on Macroeconomic Growth: A Panel Approach Covering Four Countries and Twelve 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 contributed 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||Blind, Knut (Berlin Technial University / Fraunhofer Institute for Systems and Innovation Research, Germany), Jungmittag, Andre (Wuppertal University, Germany)|
|Other bibliographical information:||In Journal of Productivity Analysis 2007.|