Economic growth and inovation in OECD countries: an approach using dynamic panel data
DOI:
https://doi.org/10.11606/1980-5330/ea200618Keywords:
innovation, R&D, patents, technologyAbstract
Innovation plays a central role in economic growth. We aimed to analyze the relationships among variables related to innovation and GDP per capita for a group of selected OECD countries from 1980 to 2017. The results show that the stock of ideas contributes positively to the growth of GDP per capita, as well as the stock of physical capital. Domestic R&D spending has amarginally negative effect on GDP in high-income countries, but these countries do not seem to benefit from spillovers from total OECD R&D spending and the degree of trade openness.
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