The interactions between economic growth and innovation in OECD countries: a PVAR modeling approach
DOI:
https://doi.org/10.11606/1980-5330/ea191246Keywords:
technological diffusion, technical progress, patentsAbstract
Innovation is a fundamental factor for economic growth within the endogenous growth theory. Thus, the objective of this article will be to evaluate the shock effects on some variables related to the production of technology on knowledge production and per capita income in OECD countries between 1980 and 2017. For this, the Panel Data Vector Autoregressive (PVAR) method will be used. The results showed us that a favorable shock to the expenditure of ideas in R&D has positive effects on the OECD GDP. A spillover variable showed that OECD economies can benefit from a technology diffusion process.
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