Volume 27, Issue 1, October 2016, Pages 50–59
Seda Çalışır1
1 Department of Economics, Faculty of Economics and Administrative Sciences, Galatasaray University, Turkey
Original language: English
Copyright © 2016 ISSR Journals. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Today, the technology has become a substantial factor that affects a country's competitiveness and economic growth. It is considered that the classical factors of production –capital, labor, land- do not provide an efficient growth in countries without the human capital accumulation and the technology. Thus far, the literature has widely examined the interaction between economic growth and the innovation level of the countries. The main contribution of this study has been to demonstrate the impact of human accumulation and the government’s research and development (R&D) policies to patent development, which is a proxy for measuring the technological improvement. By exploiting the intensity of R&D researchers and R&D expenditure policy among 28 OECD countries in panel data for years 1998-2013, this paper provides the policy suggestions for governments by taking into consideration also the patent stock depreciation through years. According to our comparisons among pooled OLS, fixed and random effect models, the R&D expenditure policy and the patent stock have an obvious effect on the patent development of these 28 countries. Nevertheless, the R&D researchers and government researchers do not seem ensuring statistically significance. It would better for the governments to strengthen the human capital factor by applying more inclusive education policy to see its efficiency in the economic growth.
Author Keywords: Research and Development, Patent, Economic Growth, OECD, Panel Data.
Seda Çalışır1
1 Department of Economics, Faculty of Economics and Administrative Sciences, Galatasaray University, Turkey
Original language: English
Copyright © 2016 ISSR Journals. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Abstract
Today, the technology has become a substantial factor that affects a country's competitiveness and economic growth. It is considered that the classical factors of production –capital, labor, land- do not provide an efficient growth in countries without the human capital accumulation and the technology. Thus far, the literature has widely examined the interaction between economic growth and the innovation level of the countries. The main contribution of this study has been to demonstrate the impact of human accumulation and the government’s research and development (R&D) policies to patent development, which is a proxy for measuring the technological improvement. By exploiting the intensity of R&D researchers and R&D expenditure policy among 28 OECD countries in panel data for years 1998-2013, this paper provides the policy suggestions for governments by taking into consideration also the patent stock depreciation through years. According to our comparisons among pooled OLS, fixed and random effect models, the R&D expenditure policy and the patent stock have an obvious effect on the patent development of these 28 countries. Nevertheless, the R&D researchers and government researchers do not seem ensuring statistically significance. It would better for the governments to strengthen the human capital factor by applying more inclusive education policy to see its efficiency in the economic growth.
Author Keywords: Research and Development, Patent, Economic Growth, OECD, Panel Data.
How to Cite this Article
Seda Çalışır, “Patent Development of OECD Countries: A Panel Data Study,” International Journal of Innovation and Scientific Research, vol. 27, no. 1, pp. 50–59, October 2016.
