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Desarro. soc. | eISSN 1900-7760 | ISSN 0120-3584

Patents and Economic Growth: ¿Innovation of residents and non residents?

No. 76 (2016-01-01)
  • Jacobo Campo Robledo
  • Juan Pablo Herrera Saavedra

Abstract

This paper presents empirical evidence on the impact of patents on economic growth, in 8 countries of Latin America during the period 1990-2011. A Cobb-Douglas production function type is estimated to quantify the effect and magnitude that have patents registered by residents and patents registered by non-residents, on the GDP, controlling by variables as gross capital formation and labor force. The empirical results show that there is a significant positive relationship in which long-run impact of the registered residents on GDP is smaller than patents registered by non-resident about 0.02%.

Keywords: Economic growth, resident patents, non resident patents, production function, panel unit root tests, panel cointegration

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