Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/259610 
Year of Publication: 
2020
Citation: 
[Journal:] Journal of Innovation and Entrepreneurship [ISSN:] 2192-5372 [Volume:] 9 [Issue:] 1 [Article No.:] 18 [Publisher:] Springer [Place:] Heidelberg [Year:] 2020 [Pages:] 1-22
Publisher: 
Springer, Heidelberg
Abstract: 
Industrial houses and governments of different countries and groups spend a sizeable amount of their earnings upon research and development activities to create new products and obtain patents for them. The short-run motive is to get patents, and the long-run motive is to influence income growth of the countries. The empirical findings so far are skeptical on the effects of research and development (R&D) spending. The present study further investigates the long-run associations and short-run dynamics among R&D spending, number of patents and per capita income growth in the panel of countries and groups for the period 1996-2017. Using VAR model for the panel data, the study observes that R&D spending, number of patents and per capita income growth have no long-run equilibrium relations but in the short-run, income growth and number of patents make a cause to R&D spending. However, there are weak causation from patents and R&D spending to income growth rates. The study thus recommends for controlling unfair competition on spending on R&D head and getting patents since it increases the magnitudes of social cost.
Subjects: 
R&D share
Patents
Per capita income growth
VAR
Panel unit roots
Panel cointegration
Panel causality
JEL: 
O3
O4
E24
F2
O5
C32
C510
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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