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Erscheinungsjahr: 
2023
Schriftenreihe/Nr.: 
KOF Working Papers No. 511
Verlag: 
ETH Zurich, KOF Swiss Economic Institute, Zurich
Zusammenfassung: 
This paper studies the global synchronicity of technology and its impact on the economy. We employ dynamic factor analysis to decompose patent data in different digital technologies for various countries into global and country-specific factors. Our findings confirm the existence of global and local technology cycles. We further find a significant positive correlation between the estimated global technology index and a country's economic performance. This positive effect is stronger in countries with broad technological exposure. However, a concentration in only few dominant technological fields seems to reduce the positive impact of the global technology cycle on a country's economic performance.
Schlagwörter: 
innovation index
dynamic factor model
patent data
productivity growth
knowledge diffusion
digitalization
globalization
JEL: 
O31
O33
O47
C38
L86
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
Working Paper

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