A Time Series Test of Innovation-Driven Endogenous Growth

Norman H. Sedgley

Economic Inquiry, 2006, vol. 44, issue 2, 318-332

Abstract: This article finds evidence that ideas and innovation are a key force explaining postwar growth in the U.S. economy. Utilizing data on patents issued since 1851, I construct a measure of the growth rate of knowledge. Capital stock estimates, human capital estimates, and real gross domestic product per worker growth rates are combined with the knowledge growth series to construct a time series test of endogenous innovation growth models. The results support the endogenous innovation approach but suggest that the accumulation of the per worker capital stock and changes in average human capital per worker are at least as important. (JEL 030, C32) Copyright 2006, Oxford University Press.

JEL-codes: C32 (search for similar items in EconPapers)
Date: 2006
References: Add references at CitEc
Citations: View citations in EconPapers (7)

Downloads: (external link)
http://hdl.handle.net/10.1093/ei/cbj017 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oup:ecinqu:v:44:y:2006:i:2:p:318-332

Ordering information: This journal article can be ordered from
https://academic.oup.com/journals

Access Statistics for this article

Economic Inquiry is currently edited by Preston McAfee

More articles in Economic Inquiry from Western Economic Association International Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK. Contact information at EDIRC.
Bibliographic data for series maintained by Oxford University Press ().