Education and Invention

Otto Toivanen and Väänänen, Lotta

No 8537, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: Modern growth theory puts invention on the center stage. Inventions are created by individuals, raising the question: can we increase number of inventors? To answer this question, we study the causal effect of M.Sc. engineering education on invention, using data on U.S. patents? Finnish inventors and the distance to the nearest technical university as an instrument. We find a positive effect of engineering education on the propensity to patent, and a negative OLS bias. Our counterfactual calculation suggests that establishing 3 new technical universities resulted in a 20% increase in the number of USPTO patents by Finnish inventors.

Keywords: Ability bias; Citations; Education; Engineers; Growth; Innovation; Invention; Inventors; Patents (search for similar items in EconPapers)
JEL-codes: I21 J24 O31 (search for similar items in EconPapers)
Date: 2011-08
New Economics Papers: this item is included in nep-edu, nep-ino, nep-ipr, nep-pr~, nep-lab and nep-tid
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Citations: View citations in EconPapers (6)

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