The impact of standards and patents 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 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:

Country effects, Growth, Industry effects, Innovation, Patents, Standards

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Language(s):English
AuthorsBlind, Knut (Berlin University of Technology, and Fraunhofer Institute for Systems and Innovation Research), Jungmittag, A. (University of Wuppertal, Germany)
Publisher:Springer US
Keywords:Country effects, Growth, Industry effects, Innovation, Patents, Standards
Last update:2008